Colin buys a tv for £780. It depreciates at a rate of 5% per year.
How much will it be worth in 6 years?
Give your answer to the nearest penny where appropriate.

£573.40

Step-by-step explanation:

Amount = cost price - total depreciation

depreciation (1st year ) = 5% of £780

                     = x 780

                     = 0.05 x 780

                     = £39.00

depreciation (2nd year) = 5% of  £741

                                       =  £37.05

depreciation (3rd year) = 5% of 703.95

                                      = £35.1975

depreciation (4th year)  = 5% of 668.7525

                                       = £33.437625

depreciation (5th year) = 5% of 635.314875

                                      = £31.76574375

depreciation (6th year) = 5% of 603.5491313

                                      = £30.17745656

Total depreciation = £39.00 + £37.05 + £35.1975 + £33.437625 +   £31.76574375 + £30.17745656

                               = £206.6283253

Total depreciation = £206.6283253

Therefore,

Amount after 6 years = £780 - £206.6283253

             =  £573.3716747

             =  £573.40

The worth of the TV after 6 years is £573.40.

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step-by-step explanation:

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