Given data,
The principal, P = 1,200
The time, T = 8 years
The amount is calculated by the formula,
[tex]\text{Amount = P(1-}\frac{R}{100})^T[/tex]Put the given values in the formula,
[tex]\begin{gathered} \text{Amount = 1,200 (1-}\frac{35}{100})^8 \\ \text{Amount = 1,200 (}\frac{65}{100})^8 \\ \text{Amount = 1,200}\times\text{ (0.65})^8 \\ \text{Amount = 1},200\times0.03186 \end{gathered}[/tex]Thus, the amount is
[tex]\text{Amount = 38.24}[/tex]Therefore, the current value of the appliance is 38.24
