Question

2. A car costs $10,350 and decreases in value by 1% per month. How much will the car be worth

after 3 years?

Answer 1

The car will be worth 6,624$ in 3-years

Explanation:

Firstly we need to move the decimal two to the left, so the decimal form of 1% is 0.01.

Secondly, we make the equation by plugging in a multiplication sign and the cost of the car. Example - (0.01 x 10,350).

Now, that we have everything in an equation we can multiply 0.01 by 10,350, which will give us what 0.01 percent of 10,350 is, (103.5).

Lastly, we will subtract 103.5 from the cost of the car (10,350) to get the value of the car after the first month. The cost of the car will be $10,246.5. To find the value after the next two years we will repeat these steps...