Colin buys a tv for £780.
It depreciates at a rate of 5% per year.
How much will it be worth in 6 years?
Give your answer to the nearest penny where appropriate.
Answers
Answer:
good question but your question hurts me
Answer:
Discussing interest starts with the principal, or amount your account starts with. This could be a starting investment, or the starting amount of a loan. Interest, in its most simple form, is calculated as a percent of the principal. For example, if you borrowed $100 from a friend and agree to repay it with 5% interest, then the amount of interest you would pay would just be 5% of 100: $100(0.05) = $5. The total amount you would repay would be $105, the original principal plus the interest.
four rolled-up dollar bills seeming to grow out of dirt, with a miniature rake lying in between them
SIMPLE ONE-TIME INTEREST
I
=
P
0
r
A
=
P
0
+
I
=
P
0
+
P
0
r
=
P
0
(
1
+
r
)
I is the interest
A is the end amount: principal plus interest
P
0
is the principal (starting amount)
r is the interest rate (in decimal form. Example: 5% = 0.05)