Answer
$y= 1,860,000(0.985)^x$; $1,551,485$
Work Step by Step
$a= 1,860,000$
$r= 1.5\%$ decrease
$r= 0.015$
$t= 12$ years
$A(t)=a(1-r)^t$
$=1,860,000(1-0.015)^{12}$
$=1,551,485$
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