Answer:
To the nearest tenth of a percent, the approximate equivalent monthly depreciation rate is 1.0%
Step-by-step explanation:
From the question, we have a per annum decrease of 12.4%
what this mean is that, yearly, we expect a decrease of 12.4%
To get the monthly decrease value, we have to divide this given value by the number of months in a year which is 12
Thus, we have it that;
12.4%/12
= 1.0%
To the nearest tenth, the monthly decrease percentage is 1.0%
