Algebra-1

Question Analysis
This question tests the student's ability to apply the depreciation formula to a real-world scenario. The problem provides the initial value, the annual depreciation rate, and the time period, and asks for the remaining value after the given time.

Key Concept Explanation
Depreciation is a form of exponential decay where the value of an asset decreases over time at a fixed proportion. The formula is used to calculate the remaining value of an asset after a certain period.

Step-by-step Solution
1. Identify the given values: , , and .
2. Substitute these values into the depreciation formula:

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