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

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Question 114853: The electricity cost of a business decreased from $12,000 one year to $10,920 the next. What is the rate of the decrease?
Answer by checkley71(8403) About Me  (Show Source):
You can put this solution on YOUR website!
(12000-10920)/12000=1080/12000=.09 OR 9% IS THE ANNUAL RATE OF DECREASE.