Question

Holly's new iPhone cost $1200. The value decreases 8% each month. How much will it be worth in 1 year?

Answer 1

After 1 month, the value of the iPhone will decrease by 8/100 * $1200 = $<<8/100*1200=96>>96.

After 1 year, the value of the iPhone will decrease by 12 * 96 = $<<12*96=1152>>1152.

The iPhone will be worth $1200 - $1152 = $<<1200-1152=48>>48. Answer: 48.