Question

A laptop computer is purchased for $2700. Each year, it’s value is 70% of its value the year before after how many years will laptop computer be worth $500 or less

Answer 1

Answer: 5 years!

Reasoning:

Year 1: 2700 x .70=1890

Year 2: 1890 x .70= 1323

Year 3: 1323 x .70= 926.1

Year 4: 926.1 x .70= 648.27

Year 5: 648.27 x .70=453.79