Algebra-1

Question Analysis
This question tests the student's understanding of exponential decay and the ability to write an exponential function based on a given context.

Key Concept Explanation
In an exponential decay model, the value decreases by a constant factor (decay factor) for each unit of time. Here, the car depreciates by 15% each year, so the decay factor is 0.85.

Step-by-step Solution
1. Identify the initial value of the car: $20,000.
2. Determine the decay factor: Since the car depreciates by 15% each year, the decay factor is .
3. Write the exponential function:

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