ben bought a car for £12,000

each year the value of the car depreciated by 10%

what is the value of the car 2 years after he bought it?

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  1. £12,000 *(1-r)^2
    =£12,000 *(1-0.10)^2

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  2. If you have an answer that you'd like to double-check, feel free to post it for checking.

    Otherwise try pencil and paper or a calculator.

    =£12,000 *(1-0.10)^2
    =$12,000 *0.90^2

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