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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 perc…

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 perc…
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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%)

asked
User Birla
by
8.1k points

2 Answers

3 votes
Its not 67%
It is 0.666666667
answered
User Steve Moser
by
8.1k points
0 votes
23400 x 8/100 = 1872 = the loss
1872 : 12 = 156= the loss each month
156/1872*100% = 8,33 % then round it
answered
User Sunil Kumar B M
by
8.6k points
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