Question

As soon as I knew cars purchased and driven away from the dealership it begins to lose its value or depreciate also bought a 1994 Plymouth neon for $9,559 one year later the value of the car was $8,500 what was the percent of the decrease of the value of the car

Answer 1

11.1%

Explanation:

The percentage change in a value can be computed from ...

%change = ((new value)/(old value) -1) × 100%

= ((8500/9559) -1) × 100%

= (0.8892 -1) × 100%

= -11.08%

The value of the car decreased about 11.1% in the first year.