Algebra-1

Question Analysis
This question tests the student's ability to apply the exponential decay formula to a real-world scenario. The problem involves calculating the value of an asset after a certain period, given its initial value and the depreciation rate.

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 used is , where is the remaining value, is the initial value, is the depreciation rate, and is the time in the same units as the rate.

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

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