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The value of a boat is $23,400. It loses 8% of its value every year. Find the approximate monthly percent decrease in value. Round your answer to the nearest hundredth of a percent.
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The value of a boat is $23,400. It loses 8% of its value every year. Find the approximate monthly percent decrease in value. Round your answer to the nearest hundredth of a percent.

User Anand Gupta
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23400 x 8/100 = 1872 = the loss
1872 : 12 = 156= the loss each month
156/1872*100% = 8,33 % then round it
User YingYang
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