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14 January, 04:12

Jordan buys a car for £5000. It depreciates buy 23% per year. How much is it worth after 5 years?

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  1. 14 January, 04:24
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    The answer can be computed as follows:

    worth = £5000 (1 - 0.23) ^ (5) = £1353.39

    It is approximately worth £1353.39 after 5 years.
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