Mel invests £6400 for 5 years in a saving account. She gets 3% per annum compound interest. How much money will she have in the
1 answer:
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<u>Answer</u>:
The resale value after three years = $ 632.8125
<u>Explanation</u>:
Given the laptop purchase for $1500
Therefore, the cost price = $1500
According to the question, the resale value decreases by 25%,
Then after three years, the resale value is
Resale Value =
Substituting the values,
Resale Value =
Resale Value =
Resale Value =
Resale Value = $632.8125
Therefore, the resale value after three years = $ 632.8125