To solve this problem, we need to calculate the value of the computer after each year, using the given information that its value each year is about 77% of the value the preceding year.
After the first year, the value of the computer would be 77% of $4,700, or 0.77 * $4,700 = $3,619.
After the second year, the value of the computer would be 77% of $3,619, or 0.77 * $3,619 = $2,786.63.
Following this pattern, we can find the value of the computer after 8 years:
Year 3: 0.77 * $2,786.63 = $2,146.85
Year 4: 0.77 * $2,146.85 = $1,652.13
Year 5: 0.77 * $1,652.13 = $1,272.48
Year 6: 0.77 * $1,272.48 = $980.66
Year 7: 0.77 * $980.66 = $754.73
Year 8: 0.77 * $754.73 = $581.74
Therefore, after 8 years, the value of the computer would be approximately $581.74.
A computer is purchased for $4.700. Its value each year is about 77% of the value the preceding year. Find the value of the computer after 8 years. Round to the nearest
cent.
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