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Apple’s new entry-level iMac is easier on the wallet

Apple launched a new entry-level iMac computer Wednesday at a more affordable price point.

The desktop computer will start at $1,099, $200 less than the least expensive model previously available, and will feature a 21.5-inch, ultra-thin screen and Intel Core i5 processors, Apple (AAPL) announced.

It also comes with 8 gigabytes of memory and a 500 gigabyte hard drive, though can be specially configured with higher-end storage options or technical specifications.

As with all Macs, the new iMac carries the OS X operating system and will be able to upgrade to the new Yosemite version when it becomes available this fall.