Amir buys a car for £15095 which depreciates in value at a rate of 2.75% per year Work out how much Amir's car will be worth in 4 years.

Question

asked Nov 14, 2024 107k views

1 Answer

Choldgraf · Answer 1 · 2024-11-21T09:45:44+0000

Answer: £13,741.69 will be the value in 4 years

Explanation:

formula: present value * (1-depreciation rate)^years

15095*(1-0.0275)^4

=13,741.69