Colin buys a car for £20000. It depreciates at a rate of 6% per year. How much will it be worth in 2 years? Give your answer to the nearest penny where appropriate.

$22,400.00

Step-by-step explanation:

A = $22,400.00

I = A - P = $2,400.00

Equation:

A = P(1 + rt)

Calculation:

First, converting R percent to r a decimal

r = R/100 = 6%/100 = 0.06 per year.

Solving our equation:

A = 20000(1 + (0.06 × 2)) = 22400

A = $22,400.00

The total amount accrued, principal plus interest, from simple interest on a principal of $20,000.00 at a rate of 6% per year for 2 years is $22,400.00.

pla·gia·rism

/ˈplājəˌrizəm/

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noun

the practice of taking someone else's work or ideas and passing them off as one's own.

step-by-step explanation: