Question

Dan buys a car for £2300. It depreciates at a rate of 0.2% per year. How much will it be worth in 6 years? Give your answer to the nearest penny where appropriate.

Answer 1

the answer is 2272.54

Explanation:

:))

Answer 2

9514 1404 393

Answer:

£2272.54

Explanation:

An equation for the value is ...

v = £2300(0.998^t)

Then for t=6, the value is ...

v = £2272.54

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Additional comment

The growth factor (0.998) is (1 - decay rate) = (1 -0.002).