Answer:
£707.8
Step-by-step explanation:
Given data
Price= £800
Rate= 4%
Time= 3 years
Let us apply the compounding formula
A=P(1-r)^r-------------Note the negative sign is because of depreciation
substitute
A= 800(1-0.04)^3
A= 800(0.96)^3
A=800*0.884736
A= £707.8
Hence the value will be £707.8