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.

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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.

Mathematics
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At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

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Wheres the answer choices
I know you can use this formula A(T)=P+(1+r)^r/t or something like that lol
I'm sorry, I'm not good with financial mathematics

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:( Aw! It's fine:)
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It 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.

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