Question

The value of a boat is $23,400. It loses 8% of its value every year. Find the approximate monthly percent decrease in value. Round your answer to the nearest hundredth of a percent.
NOT 67% OR 8.4!!!!

Answer 1

Answer:

23400 x 8/100 = 1872 = the loss  

1872 : 12 = 156= the loss each month  

156/1872*100% = 8.33 % then round it

Answer 2

23400 x 8/100 = 1872 = the loss  

1872 : 12 = 156= the loss each month  

156/1872*100% = 8.33 % then round it