(Total for question = 3 marks) Q10.
* This notice was in a car magazine.
Most new cars lose more than half of their value
in the first three years
Paul bought a new car. The value of the car was £15 000
In the first year, the value of the car depreciated by 23%
After the first year, the value of the car depreciated by 18% each year
Work out if Paul's car lost more than half of its value by the end of three years
(Hint: Work out each year as a separate calculation)