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Answer:
The value in millions of dollars of a downtown office building that cost 12 million dollars to build 20 years ago and depreciated at 9% per year is $1819738.95
Step-by-step explanation:
Cost of building 20 years ago = 12000000
We are given that the cost depreciated at 9% per year
Formula :
Where N(t)= Population after t years
=Initial population=12000000
r= rate of depreciation=0.09
t = 20 years
Substitute the values in the formula:
N(t)=1819738.95
Hence the value in millions of dollars of a downtown office building that cost 12 million dollars to build 20 years ago and depreciated at 9% per year is $1819738.95