Sumikkogurashi
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The value of a boat is $22,000. It loses 20% of its value every year. Find the approximate monthly percent decrease in value. Round your answer to the nearest hundredth of a percent. PLZ HELP! I"LL GIVE BRAINLIEST!!!!

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annieflvs

Answer:

If it lost 20% of the original value per year, it lost $4,400 in value in the first year.

There are 12 months in a year.

4,400 divided by 12 is 366.67 (rounded since this is about money)

So the boat lost $366.67 in value each month for the first year.

Or 1.67% value per month

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