Answer: C)$117.18
$108.50 X 1.08 = $108.50
Answer:
£1837.5
Step-by-step explanation:
Given data
Cost of car P= £2100.
Rate r= 2.2%
Time t= 6 years
Now we want to find the worth after 6 years, let us apply the compound interest expression but this time for depreciation
A= P(1-r)^t
Substitute
A= 2100(1-0.022)^6
A= 2100*(0.978)^6
A= 2100*0.875
A= £1837.5
Hence the amount of the car after 6 years is £1837.5
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