Algebra-1

Question Analysis
This question evaluates the student's ability to apply the depreciation formula to a real-world scenario involving a building. 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: