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

asked Mar 8, 2021 203k views

1 vote

by Lovin

3.6k points

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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

Ju Nogueira answered Mar 14, 2021

3.9k points

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