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Jordan buys a car for £5000. It depreciates buy 23% per year. How much is it worth after 5 years?

Jordan buys a car for £5000. It depreciates buy 23% per year. How much is it worth after 5 years?
asked 164k views
3 votes
Jordan buys a car for £5000. It depreciates buy 23% per year. How much is it worth after 5 years?

asked
User Uvtc
by
8.2k points

1 Answer

4 votes
The answer can be computed as follows:
worth = £5000(1 - 0.23)^(5) = £1353.39
It is approximately worth £1353.39 after 5 years.
answered
User Kilkadg
by
7.6k points
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