Answer:
708
Explanation:
Answer
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Given:
The cost of the T.V. for Colin = £ 800.
The rate of depreciation per year = 4%
Time period = 3 years
To find:
How much will it be worth in 3 years? Give your answer to the nearest penny where appropriate.
Solution:
To solve the above-given problem, we will use the following formula:
where
A = the final value after depreciation
P = the present value
R = rate of depreciation
n = time period
Now, on substituting the given values in the formula, we get
we will round the above answer to its nearest penny where appropriate
≈ £ 708
Thus, the worth of the t.v. in 3 years will be £ 708.