Answer:
£6941
Step-by-step explanation:
If the car depreciates by 16% each year, then its value is multiplied by 1-16% = 0.84 each year. After 8 years, the value will have been multiplied by that factor 8 times.
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Depreciated value = Original value × 0.84^8
= £28,000 × 0.247876
≈ £6941 . . . . value after 8 years
