Question

Brian buys a computer for £3100. It depreciates at a rate of 5% per year. How much will it be worth in 5 years? Give your answer to the nearest penny where appropriate.

Answer 1

$2398.72( I cannot use your dollar sign).

Explanation:

If it decreases by 5% every year, then 3100*0.95=2945. Then 2945*0.95=2797.75. Then the 3rd year is 2797.75*0.95=2657.8625. Then 2,657.8625*0.95=2524.96938. Lastly, in the fifth year, it is 2524.96938*0.95=2398.72091. Then, I round off to the nearest penny(hundredths). The answer I get is $2398.72!

Answer 2

Answer: 2398.72

Explanation:

Simply do 3100*0.95*0.95*0.95*0.95*0.95 ≈ 2398.72

Hope it helps <3