Question 2 (10 points) C. A new car that cost 23,000 is worth 16,100 a year later. What was the rate of depreciation for the one year? a 31% b 30% 28% d 32%

To find the rate of depreciation for the one year, we need to calculate the percentage decrease in the car's value from the original cost to the value after one year.<br /><br />The formula for calculating the percentage decrease is:<br /><br />Percentage decrease = (Original value - New value) / Original value * 100%<br /><br />In this case, the original value of the car is $23,000 and the new value after one year is $16,100.<br /><br />Plugging these values into the formula, we get:<br /><br />Percentage decrease = ($23,000 - $16,100) / $23,000 * 100%<br /> = $6,900 / $23,000 * 100%<br /> = 0.3 * 100%<br /> = 30%<br /><br />Therefore, the rate of depreciation for the one year is 30%.<br /><br />Answer: b) 30%