Answer: £611.23
Step-by-step explanation:
The tv is depreciating at a rate of 2% per year. At this rate, the value after 6 years can be acquired using the future value formula:
= Current price * (1 + growth rate) ^ no. of years
Growth rate is negative because it is depreciating:
= 690 * (1 - 2%)⁶
= 611.23124279616
= £611.23
