SOLUTION: A laptop computer is purchased for $5000 . Each year, its value is 70% of its value the year before. After how many years will the laptop computer be worth 800 or less? Write th

Question 1191512: A laptop computer is purchased for $5000 . Each year, its value is 70% of its value the year before. After how many years will the laptop computer be worth 800 or less?
Write the smallest possible whole number answer.
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
P=$5000(0.70)^t, where t is number of years. so if t=0, at the beginning, it is worth $5000, and it is worth $3500 the first year.
800=5000(0.70)^t
divide by 5000
0.16=0.70^t
log (0.16)=t log (0.70)
t=log 0.16/log 0.70=5.14 years
so it will be at 6 or more years

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