exponential equation

The retail value of a 2011 15.4" Apple Macbook Pro laptop was $2199.99. The resale value of the Macbook Pro decreases by 13.8% each year. Use this information to complete the following problems.

a. Write the equation for the exponential function that could model this situation, where t is the number of years after 2011. Call it V(t).

The retail value of a 2011 15.4" Apple Macbook Pro laptop was $2199.99. The resale value of the Macbook Pro decreases by 13.8% each year. Use this information to complete the following problems.

a. Write the equation for the exponential function that could model this situation, where t is the number of years after 2011. Call it V(t).

V(t)=2199.99(.862)^x is this correct?

c. Use your model to estimate GRAPHICALLY when the value of the laptop will depreciate to $1,000.

e. Suppose it would not be worth your time to sell the laptop once the value dropped below $500. Determine graphically AND algebraically in which year this will happen.

c. Use your model to estimate GRAPHICALLY when the value of the laptop will depreciate to $1,000.

e. Suppose it would not be worth your time to sell the laptop once the value dropped below $500. Determine graphically AND algebraically in which year this will happen.