Answer:
£14889.30
Step-by-step explanation:
The cost of the car = £15500.
For the first year,
depreciation = £15500 x 1%
= £155
Its worth after the first year = £15500 - £155
= £15345
For the 2nd year,
depreciation = £15345 x 1%
= £153.45
Its worth after the second year = £15345 - £153.45
= £15191.55
For the 3rd year,
depreciation = £15191.55 x 1%
= £151.9155
Its worth after the third year = £15191.55 - £151.9155
= £15039.6345
For the 4th year,
depreciation = £15039.6345 x 1%
= £150.3963
Its worth after the fourth year = £15039.6345 - £150.3963
= £14889.2382
Thus, the worth of the car in 4 years would be £14889.30
