A new phone cost £679The value of the phone decreases at a rate of 4% per year.Work out the value of the phone at the end of 3 years.
Question
Solution 1
Step 1: Understand the problem The problem is asking for the value of the phone after 3 years, given that it decreases in value by 4% each year.
Step 2: Calculate the annual depreciation To find the value of the phone after each year, we need to subtract 4% of its value. Since the phone is worth £6 Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI
Similar Questions
$600 at a rate of 2% per year simple interest.Calculate the value of Ali’s investment at the end of 5 years
Find the future value at the end of 5 years of $900 invested today at an interest rate of 17 per cent.a.$1992.1b.$1968.62c.$1976.5d.$1973.2
What annually compounded rate per year will give the same value at the end of 10 years as 7% p.a. simple interest?
Population of a village decreases at the rate of 12% per annum.If its population 2 years ago was 62500, find its present population.78400484006000056000
A young engineer borrowed P12,000 at an interest rate of 10 percent per annum. Find the lump sum that he will pay at the end of 4 years. Answer: P17,569.20.
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.