Algebra-1

Question Analysis
This question tests the student's ability to apply the depreciation formula to find the value of an asset after a given period, with a focus on converting time units.

Key Concept Explanation
Depreciation is the process by which the value of an asset decreases over time. The formula is used to calculate the remaining value of an asset after periods, where is the initial value and is the depreciation rate per period.

Step-by-step Solution
1. Convert 3 years to months: months
2. Identify the given values: , ,

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