A laptop computer is purchased for US$850. After each year, the resale value decreases by 35%. What will the resale value be after 3 years?Use the calculator provided and round your answer to the nearest dollar.
Question
A laptop computer is purchased for US$850. After each year, the resale value decreases by 35%. What will the resale value be after 3 years?Use the calculator provided and round your answer to the nearest dollar.
Solution
Sure, let's solve this step by step.
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Initial Value: The initial purchase price of the laptop is $850.
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Annual Depreciation: The resale value decreases by 35% each year. This means that after each year, the laptop retains 65% (100% - 35%) of its value from the previous year.
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Value After 1 Year:
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Value After 2 Years:
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Value After 3 Years:
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Rounding to the Nearest Dollar:
So, the resale value of the laptop after 3 years will be approximately $233.
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