Frank buys a car at the start of 2015, for £12,000. Each year the value fo the car depreciates by 9%. What was the value of the car at the end of 2019?
The value of the car in 2019 would be £7488.39This is because you take the original value of the car, and multiply it by the multiplier (1.00-0.09)to the power of how many years have passed since the initial valuation (5). This leaves us with the equation 12000 x 0.915= 7488.3857
AN
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