Explanation:
a = 16
b = 3
because only the factor 3 gets repeatedly added every year (x).
the rest (the starting value that gets tripled and then tripled and then tripled ... every year) is constant.
f(x) = 16×3^x
as you know, exponents have the higher priority to multiplications.
if you want to be save you can use brackets like
f(x) = 16×(3^x)