Question

A motorcycle cost $12,000 when it was purchased. the value of a motorcycle decreases by 6% each year. find the rate of decay each month and select the correct answer below

Answer 1

The rate of decay each month can calculated using the following formula:

6%/year × 1 year/(12 months) = 0.5%/month
0.06 x 1/12 = 0.005/month
So the -0.005% is the right answer.
I hope it helped.

Answer 2

Answer:

-0.5%

Explanation:

Just submitted it and the correct answer was -0.5%