For each one year period after a car was purchased its value at the end of the year was 15% less than its value at the beginning of the year. State whether the value of the car as a function of time after it was purchased is best modeled with a linear function, a quadratic function, or an exponential function, and explain why.
The value of the car as a function of time after it was purchased is best modeled with an exponential function, because the value decreases by a fixed percentage each year. Exponential functions model situations where the rate of change is proportional to the current value.
