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The value of a car depreciates by 18% per year. Work out the current value of a car bought 4 years ago for £20000.

The value of a car depreciates by 18% per year. Work out the current value of a car bought 4 years ago for £20000.
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The value of a car depreciates by 18% per year. Work out the current value of a car bought 4 years ago for £20000.

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User Lovin
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1 Answer

2 votes

Answer:

9042.4352 = 9042.44 (rounded off to the nearest pence)

Explanation:

formulae P( 1 - R/100)^yrs thus

20000( 1 - 18/100)^4

answered
User Ju Nogueira
by
8.3k points
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