The value of the car after three years is £6936
<h3>How to determine the value of the car?</h3>
The initial value of the car is given as:
Value = £12000
When the value depreciates by 20% after the first year, the new value of the car is:
New = £12000 * (1 - 20%)
Evaluate
New = £9600
When the value depreciates by 15% after the second year, the new value of the car is:
New = £9600* (1 - 15%)
Evaluate
New = £8160
When the value depreciates by 15% after the third year, the new value of the car is:
New = £8160 * (1 - 15%)
Evaluate
New = £6936
Hence, the value of the car after three years is £6936
Read more about depreciation at:
brainly.com/question/25297296
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