Question

Item 1 The value of a car is $23,000. It loses 11.1% of its value every year. Find the approximate monthly decrease in value. Round your answer to the nearest tenth.

Answer 1

Answer:

$212.8

Step-by-step explanation:

If the car loses 11.1% per year, we need to calculate how much money is that:

$23,000\frac{11.1}{100} = 2,553.$; this value is the lost per year.

Now, in order to calculate this loss per month, we divide it by 12:

$\frac{2553}{12} =212.75$

Hence, the monthly value decrease is $212.8, rounding it to the tenth.