A car initially costs $45,000 and depreciates at a rate of 1...

Question Analysis
This question tests the student's ability to write an exponential function for depreciation. The key is to identify the decay factor and the time period.

Key Concept Explanation
The general form of an exponential function is (), where is the initial quantity, is the growth/decay factor, and is the time (or number of changes).

Step-by-step Solution
1. Identify the initial value: