Dan buys a car for £900.
It depreciates at a rate of 1.2% per year.
How much will it be worth in 4 years?
Give your answer to the nearest penny where appropriate.
Since the car value is worth £900 and it depreciates at a rate of 1.2%, you need multiply the value by 0.012 (1.2% in decimal form) and subtract it by the value of each preceding year.
