# [Solved] Greg bought a new car for £18000In the first year the value of the car depreciates by 30%In the second year and third year the car depreciates by 14%Work out the value of the car after 3 years

To determine the value of the car after each year of depreciation, we’ll apply the percentage decrease successively for each year.

Step 1: Calculate Depreciation for the First Year Depreciation in the first year = 30%30% of £18000

Value after first year = Initial value – Depreciation for the first year =£18000−(30%×£18000)=£18000−(30%×£18000)

Step 2: Calculate Depreciation for the Second Year Depreciation in the second year = 14%14% of value after first year

Value after second year = Value after first year – Depreciation for the second year =Value after first year−(14%×Value after first year)=Value after first year−(14%×Value after first year)

Step 3: Calculate Depreciation for the Third Year Depreciation in the third year = 14%14% of value after second year

Value after third year = Value after second year – Depreciation for the third year =Value after second year−(14%×Value after second year)=Value after second year−(14%×Value after second year)

Let’s compute the value of the car after 3 years.

The value of the car after 3 years, after accounting for depreciation, is £9,318.96.