SOLUTION: the electricity costs of a business decreased from $12,000 one year to $10,920 the next. what is the rate of decrease?

Question 117251: the electricity costs of a business decreased from $12,000 one year to $10,920 the next. what is the rate of decrease?
Answer by checkley71(8403) (Show Source): You can put this solution on YOUR website!
(12,000-10,920)/12,000=1080/12,000.09 OR 9% ANNUAL DECREASE.