James buys a new car for £1000. Every year the value of the car decreases by 3%. If James bought the car in 2017 what would the value of the car be in 2021?
First work out how many years have passed since the car was bought. 2017-2021 is 4 years. Write an expression for the cost of the car after n years. Cost = 1000 * 0.97n. Write down an expression for the cost of the car after 4 years. Cost = 1000 * 0.974. Calculate the total cost. Cost = £885.29281 = £885.29
WG
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