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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.

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.
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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.

User Gnueghoidune
by
8.7k points

1 Answer

7 votes
I think it is 0.6667%
User Vladimir Afinello
by
8.5k points
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