<PRE><B>Question 1097928</B>
f = p * (1 + r) ^ n


f is the future value
p is the present value
r is the interest rate per time period
n is the number of time periods.


in your problem:


f is what you wand to find.
p is 16,000
r is -.17% per year which is equal to -.17 per year.
n is 9 years.


formula becomes f = 16,000 * (1 - .17) ^ 9


solve for f to get f = 2991.04 rounded to 2 decimal places.


the value of the car is 2991.04 pounds after 9 years if it depreciates 17% per year.








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