Question

Matthew bought a laptop for $34,000 in the year 2008. Its value depreciates by 4% per year. What is the

value of laptop in 2011?

Answer 1

The value of the laptop in 2011 will be $29920

Explanation:

Cost of the laptop = $34000

Rate of decrease in value per year = 4%

Total time = 3 years

The Value decrease in 2011 = (34000 x 4 x 3) /100

= $4080

The value of the laptop in 2011 = 34000-4080

= $29920

The value of the laptop in 2011 will be $29920