1.1. The price, £P, of a car is £20 000 in 2019.
The price is expected to decrease by 5% each year after 2019.

Jasmine says

This means the price in 2021 is expected to be £18 000.

She is incorrect.
Explain her error and work out the correct answer.

Her error is .........................................................

The correct answer is £ ...........................................................

1.2. Write a formula for $P$ in terms of $n$, where $n$ is the number of years after 2019.

$P=$.............................

1.3. Circle the graph that best represents the price, £$P$, of the car $n$ years after 2019.