Answer:
$178.3
Step-by-step explanation:
The value of a car is $20,000
The car loses 10.7% of its value yearly
Since there are 12 months in a year then 10.7% can be represented as
10.7%/12
= 0.8916%
Therefore the approximate monthly decrease in value can be calculated as follows
= $20,000×0.8916/100
= $20,000×0.008916
= $178.3
Hence the approximate monthly decrease in value is $178.3
Your answer is true! I hope that helps ;)
