Colin buys a car for £42800. It depreciates at a rate of 5% per year. How much will it be worth in 2 years? Give your answer to the nearest penny where appropriate.

Question

asked Dec 25, 2022 200k views

1 Answer

Kahou · Answer 1 · 2022-12-31T05:01:30+0000

Answer:

£38,6267

Explanation:

First year depreciation will be:

42800 * 0.(100-5) = £40,660

Second year worth after depreciation:

40660 * 0.(100-5) = £38,627

I hope I answered your question well.