Question

The value of a new car is expected to decrease by 17% each year. Use the exponential decay model to determine the equivalent quarterly rate. Enter the rate, to the nearest tenth of a percent, in the box.

Answer 1

= 4.3 % to the nearest tenth

Answer 2

This will be a quarter of the annual rate

= 17 / 4

= 4 1/4 %

= 4.3 % to the nearest tenth