Question

Colin buys a car for £15500.
It depreciates at a rate of 1% per year.
How much will it be worth in 4 years?
Give your answer to the nearest penny where appropriate.

Answer 1

Answer:

4th year at the beginning 1503963.45 penny

Step-by-step explanation:

penny1550000 - penny15500 = 1534500( 1st year)

1534500-15345=1519155(2 nd yr)

1519155-15191.55=1503963.45(3rd yr)

Answer 2

Answer:

£14889.24

Step-by-step explanation:

15500x(0.99)^4