Question

Say that the economy is in a recession, causing vehicle prices to drop by eight percent. If your car was previously worth $25,295, what is it worth now, to the nearest dollar? a. $23,851 b. $23,421 c. $23,271 d. $22,133​

Answer 1

Answer:

c.

$23,271

Step-by-step explanation:

i took the same test on edg

Answer 2

The worth of the car will be $23,271 in the nearest dollar.

What is a recession in an economy?

A recession is defined as a severe fall in economic activity that lasts more than a few episodes of time and is reflected in real GDP, income, employment, economic growth.

So if an economy is in a  recession and vehicle prices drop by eight percent.

Then, we have:

= $25,295 × 8%

$\mathbf{= 25295 \times \dfrac{8}{100}}$

= $2023.6

The price of a car that was previously worth 25,295 will be:

= $25295 - $2023.6

= $23271

Learn more about recession here:

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