The general exponential equation modelling the change per year in a value is given as:

Here,
A₀ is the original amount
A is the amount after t years
x is the change per year. For decreasing values, x will be negative
t is the number of years.
In the given case, the original value of Area is 1500. The change per year is 4.8%, in decimal this equals 0.048. Since the area is decreasing the value of x will be - 0.048.
The area Y that the forest covers after t years can be written as:

The above equation shows the relation between the forest area and the number of years since the environmental study.