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).

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.

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V(t)=2199.99(.862)^x is NOT correct.

Original question:

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).

b. Use your model to predict the resale value of the Macbook Pro laptop in 2015.

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

d. Use your model to estimate ALGEBRAICALLY 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.