SOLUTION: The value of a car is $20,000. It loses 10.7% of its value every year. Find the approximate monthly decrease in value. Round your answer to the nearest tenth.
Algebra ->
Finance
-> SOLUTION: The value of a car is $20,000. It loses 10.7% of its value every year. Find the approximate monthly decrease in value. Round your answer to the nearest tenth.
Log On
Question 1045119: The value of a car is $20,000. It loses 10.7% of its value every year. Find the approximate monthly decrease in value. Round your answer to the nearest tenth. Answer by jorel555(1290) (Show Source):
You can put this solution on YOUR website! If the car loses 10.7% per year, then it loses 10.7/12=.8917% per month. Then:
20000 x .008917= $178.33 lost per month. ☺☺☺☺
(