PLEASE HELP WILL GIVE BRAINLIEST AND 30 POINTS!!!!!
This is an assignment in Algebra 1 discussing growth and decay. Specifically car depreciation. Over the years car's prices go down. I basically had to calculate the percentage of how much this car's price dropped. So I calculated what it dropped every year now I need to do every month but I'm not sure how to do that.
First pic: the annual rate
Second pic: my annual rate calculations/percentages
Third pic: what I have so far for the monthly rate but its all wrong because my calculations don't match up but I think it's close
Answers
Answer:
Step-by-step explanation:
If the price is supposed to be dropping with each year, maybe your year/price chart would reflect that. Seems to me that the price rose between 2015 and 2016 and even by 2017 the value was still higher than it was in 2015.
I have no way of knowing how to fix this.
Let's ASSUME that the 2015 price was $71,445 and that the 2016 and 2017 prices are valid.
the decrease between 2015 and 2016 is (71445 - 68640) / 71445 = 0.03926
or 3.926%
the decrease between 2016 and 2017 is (68640 - 65945)/68640 = 0.03926
or 3.926%
so the price each year after new is
p = 71445(1 - 0.03926)ⁿ
or
71445(0.96074)ⁿ
where n is the number of years.
To get the monthly version, we divide the decrease by 12
p = 71445(1 - 0.03926/12)ˣ
or
p = 71445(1 - 0.00327)ˣ
or
p = 71445(0.99673)ˣ
where x is the number of months since new.
This may not be your exact answer, but the same method can be used if you get real numbers.
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Answers
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Answers
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Step-by-step explanation:
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-Chetan K
This value is approximate.
==================================================
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Answers
Answer:
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Step-by-step explanation:
