SOLUTION: A laptop computer is purchased for $2200. After each year, the resale value decreases by 35%. What would the resale value be after five years?

Click here to see ALL problems on Money Word Problems

Question 1152553: A laptop computer is purchased for $2200. After each year, the resale value decreases by 35%. What would the resale value be after five years?
Found 3 solutions by VFBundy, Alan3354, ikleyn:
Answer by VFBundy(438)   (Show Source):
You can put this solution on YOUR website!
= 2200 * 0.005252 = $11.55

Answer by Alan3354(69443)   (Show Source):
You can put this solution on YOUR website!
A laptop computer is purchased for $2200. After each year, the resale value decreases by 35%. What would the resale value be after five years?
===================
Hint: after each year it's worth 65% of the previous year's worth.
----
After 1 year: $2200*0.65

Answer by ikleyn(52817)   (Show Source):
You can put this solution on YOUR website!
.

The correct formula is = , as Alan explained to you. At this point, use your calculator.