As soon as I knew cars purchased and driven away from the dealership it begins to lose its value or depreciate also bought a 1994 Plymouth neon for $9,559 one year later the value of the car was $8,500 what was the percent of the decrease of the value of the car

Question

Mathematics

Guido

15 June, 21:52

As soon as I knew cars purchased and driven away from the dealership it begins to lose its value or depreciate also bought a 1994 Plymouth neon for $9,559 one year later the value of the car was $8,500 what was the percent of the decrease of the value of the car

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Desiree Bauer · Answer 1

11.1%

Step-by-step explanation:

The percentage change in a value can be computed from ...

%change = ((new value) / (old value) - 1) * 100%

= ((8500/9559) - 1) * 100%

= (0.8892 - 1) * 100%

= - 11.08%

The value of the car decreased about 11.1% in the first year.