Answer to Question #265097 in Financial Math for Venn

Question #265097

A car cost £9000 and depreciates at a rate of 20℅ per annum. Find the value of the car after 3 years.

What is asked:

What are given:

What is the answer:

Expert's answer

(a) value of the car after 3 years.

(b) rate"=20\\%, principle amount=\\$9000"

time=n=3years

(c) "value=9000(1-20\/100)^3" "=\\$4608"

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