A community for students.
Here's the question you clicked on:
 0 viewing
anonymous
 one year ago
A motorcycle cost $12,000 when it was purchased. The value of a motorcycle decreases by 6% each year. Find the rate of decay each month and select the correct answer below.
anonymous
 one year ago
A motorcycle cost $12,000 when it was purchased. The value of a motorcycle decreases by 6% each year. Find the rate of decay each month and select the correct answer below.

This Question is Closed

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0Wheres the answer choices

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0I know you can use this formula A(T)=P+(1+r)^r/t or something like that lol

Michele_Laino
 one year ago
Best ResponseYou've already chosen the best response.1I'm sorry, I'm not good with financial mathematics

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0Do you know anyone that can help?

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0@welshfella @mathmate

mathmate
 one year ago
Best ResponseYou've already chosen the best response.0It depends on the definition of terms. If it depreciates 6% a year, most people will say that it depreciates 6/12=0.5% a month. However, it is not true, because 0.5% a month will end up with (1.005)^12=6.1678%. To get the real monthly depreciation, we need to solve the equation (1+i)^12=1.06 Take logs on both sides, and solve for i, we get i=e^(log(1.06)/12)1=.004867550565343=0.486755% (I usually write log instead of ln. I write log10 when it's to the base 10). Check: (1.004867550565343)^12=1.0600000 so ok.
Ask your own question
Sign UpFind more explanations on OpenStudy
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.