A laptop is purchased for $2200. After each year, the resale value decreases by 35%. What will the resale value be after four years?
round your answer to the nearest dollar
The depreciation factor is 100-35=65%=0.65. So the total depreciation after 4 years is 0.65⁴=0.1785 approx. Apply this to the purchase price: 0.1785×2200=$393 to the nearest dollar.
