The average new car sells for 23,000 but loses value about 20% each year for the next 5 years

I think It would be $18,400

Step-by-step explanation:

You would take 23,000 then divide it by 100 to get 230 then multiply that by 20 finally you would delete 23,000 by 4600 to get what do you know 18,400.

12%

Step-by-step explanation:

The car is sold at a gain because its selling price is greater than cost price

Profit = [(selling price - cost price) / cost price ] x 100

x 100

x 100 = 12%.