A car cost $20,000 when it was purchased. The value of the car decreases by 8% each year. Find the rate of decay each month and select the correct answer below.
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What would happen if y ou were to divide that 8% by 12 (for 12 months)?
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Keep in mind 1 year=12 months!
What would the significance of your result be?
So (0.08 / 12)^12?
Never mind, isn't the answer 0.0066666667?
Hi, I got the answer wrong. @AravindG Do you know what went wrong?
Did I misunderstand anything?
A bit bsy atm.. Please wait.
No problem. My bad.
-0.666667% looks good. I am also thinking what went wrong.
Are u sure its wrong?
Yea it was. But the explanation you and mathlete gave me made sense, so I don't understand why.
c is more accurate.
b is less accurate
Why is that so?
Why do you consider b to be less accurate? A statement like that should always come with an explanation of the reasoning involved.
@mathmale I'm typing.
-0.00666666666 is the exact value
Now if you write it as -0.006667 You did a rounding off.
Whereas for -0.666667%=.00666667 The rounding is still done but after a few more digits.
I hope you understand what I tried to convey @Gold1962
So what you are saying is -0.666667% = .00666667, right? I understand.
I believe so.
I will submit that and let you know if it is correct. Thanks for your time and patience!!