If you take away 1.5%, you're left with 98.5%, right?
Let's say it's per day. After 1 day, you have 1000(0.985), aka 1000(0.985)1. After 2 days you have 1000(0.985)(0.985), aka 1000(0.985)2, etc.
This also leads to the starting point, which we call day 0, so you have 1000(0.985)0. Since anything to the zero power equals 1, that gives us our starting value of 1000.
Soooo, if we say n = the time unit (hour, day, week, whatever), then...
f(n) = 1000(0.985)n