At the start of 2014 Mike's car was worth £12000.

The value of the car decreased by 30% every year.

Work out the value of his car at the start of 2017.

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2 November, 20:03

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Echo · Answer 1

We have to calculate the value of the car after 3 years at the start of 2017.

= 1200 (1-0.30) ^{3}

= 12000 * 0.343

= $4,116

At the start of 2014 Mike's car was worth £12000.The value of the car decreased by 30% every year.Work out the value of his car at the start of 2017.