Question

Jasmine purchased a laptop worth $1,500 in 2007. It loses its value by %32 each year. What is the value of the laptop in 2010? Round to the nearest cent.

Answer 1

Answer:

$471.65

Step-by-step explanation:

-The value of the laptop after each year is calculated by the formula:

$P_t=P_o(1-d)^t$

where:

$P_t$ is the value at time t

$P_o$ is the initial value

$d$ is the rate of depreciation

$t$ is the time

#We substitute the values to solve for the value after 3 years(2010-2007=3):

$P_t=P_o(1-d)^t\\\\=1500(1-0.32)^3\\\\=\ 471.65$

Hence, the value of the laptop in 2010 is $471.65