The value of a new car is £18,000. The value of the car decreases by 25% in the first year and 12% in each of the next 4 years. Work out the value of the car after 5 years?
The initial value of the car is 18000. To subtract 25% of 18000 one must times 18000 by 0.75 which equals 13500. Next, one must times 13500 by 0.88 to the power of 4 which equals 8095.89 to 2 decimal places which is the final answer.
LB
Related Maths GCSE answers
All answers ▸What is the difference between unconditional and conditional probability?
Given the curve y=x^2 +1 and the line y=k, find, using graphical methods only, the value of k for which there is exactly one solution.
What is a good rule to find angles in a right angled triangle?
How do you find the intersection of a straight line and a curve?