A new car purchased for $\$27,000$ loses $15\%$ of its value each year.

1. What is the multiplier?

   Hint (a):

   The multiplier is a decimal representing the remaining value of the car after it loses $15$ percent of its original value.

2. Write a function of the form $f(t)=ab^t$ that represents the situation.

   Hint (b):

   Substitute the initial value and the multiplier to create the function.

3. At the current rate, what will be the value of the car in five years?

   Hint (c):

   Substitute $5$ for $t$ in the function you created in part (b).

   Answer (c):

   $\$11,980$