Answer:
The car will be worth £2516.22 in 5 years
Step-by-step explanation:
The rule of depreciating is
[tex]A=P(1-r)^{t}[/tex], where
∵ Dan buys a car for £2700
∴ P = 2700
∵ It depreciates at a rate of 1.4% per year
∴ r = 1.4% = 1.4/100 = 0.014
∵ We need to find how much it will be worth in 5 years
∴ t = 5
→ Substitute all of these values in the rule above to find A
∵ [tex]A=2700(1-0.014)^{5}[/tex]
→ Use your calculator to find the answer
∴ A = 2516.22
∴ The car will be worth £2516.22 in 5 years
