Rhonda bought a new laptop for $600. The laptop depreciates, or loses, 10% of its value each year. The value of the laptop at a later time can be found using the formula A=P(1-r)^t, where P is the original value, r is the rate of depreciation written as a decimal, and t is the number of years since it was purchased. What will the laptop be worth in two years?
P = $600
r = 0.10
t = 2
A = 600(1-0.10)^2
A = 600(0.90)^2
A = 600(0.81)
A = $486
Therefore, the laptop will be worth $486 in two years.