Question

The value of a car depreciates at a rate of 15% per year. When brand new the car is worth £42000 How much will it be worth 2 years later?​

Answer 1

£ 30 345.

Explanation:

15 % off means that 85% is left

42 000 * .85 * .85 = 42 000 (.85)^2 = 30 345