Question

Colin buys a tv for £530.
It depreciates at a rate of 3% per year.
How much will it be worth in 5 years?
Give your answer to the nearest penny where appropriate.

Answer 1

Answer:

£455.13

Step-by-step explanation:

3% = .03

p = 530(1 *- .03)⁵

p = 530(.97)⁵

p = 455.129033621

Rounded

£455.13