Answer:
P = 20000·0.921^t
Explanation:
In the exponential model given, "a" is the initial value, 20000, and "b" is the year-to-year multiplier, or growth factor. It is 100% - 7.9% = 92.1% = 0.921. So, your exponential model can be written ...
P = 20000·0.921^t