The exponential equation that models this situation is:
[tex]V(t) = 18000(0.85)^t, 0 \leq t \leq 5[/tex].
What is an exponential function?
A decaying exponential function is modeled by:
[tex]A(t) = A(0)(1 - r)^t[/tex]
In which:
- A(0) is the initial value.
- r is the decay rate, as a decimal.
For this problem, the parameters are:
A(0) = 18000, r = 0.15.
Hence the equation for the value of the car over the next 5 years is:
[tex]A(t) = A(0)(1 - r)^t[/tex]
[tex]A(t) = 18000(1 - 0.15)^t[/tex]
[tex]V(t) = 18000(0.85)^t, 0 \leq t \leq 5[/tex].
More can be learned about exponential functions at https://brainly.com/question/25537936
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