resale value

A laptop is purchased for $1700. After each year, the resale value decreases by 25%. What will be the resale value after 5 years? Let R(t) be the Resale value at time t: R(t) = 1,700(1 - 0.25)^t We want R(5) R(5) = 1,700(1 - 0.25)^5 R(5) =1,700(0.75)^5 R(5) =1,700 * 0.2373 R(5) = $403.42