Question

Faith purchases a car for $27,500. The
value of the car will depreciate each
year at a rate of 12.4%. What is the
approximate equivalent monthly
depreciation rate, to the nearest tenth
of a percent?

Help please tell the explanation I’ll give brainleist

Answer 1

Answer:

To the nearest tenth of a percent, the approximate equivalent monthly depreciation rate is 1.0%

Step-by-step explanation:

From the question, we have a per annum decrease of 12.4%

what this mean is that, yearly, we expect a decrease of 12.4%

To get the monthly decrease value, we have to divide this given value by the number of months in a year which is 12

Thus, we have it that;

12.4%/12

= 1.0%

To the nearest tenth, the monthly decrease percentage is 1.0%