Answer:
The worth of the TV after 3 years is £809.90208
Step-by-step explanation:
The answer to given question can be found from the anual depreciation formula and solving for the Future Value (F. V.) of the machine
The given parameters of the TV are;
The amount at which Collin buys the TV, P = £720
The rate at which the TV depreciates at, R = 4%
The number of years the depreciation is applied, T = 3 years
The amount the TV is worth after three years, 'A', is given as follows;
By plugging in the known values, we have;
The amount the TV is worth after three years, A = £809.90208
