Answer:
Step-by-step explanation:
We are given an exponential function [tex]f(x) = (0.07)^x[/tex].
We know, the standard exponential function [tex]y= a(b)^x[/tex], where a is the initial value and b is growth factor.
If b is greater than 1, then it would be an Exponential growth and if b is less than 1, then it would be an Exponential decay.
Also b= 1+r, where r is the rate of decay or growth.
For the given function [tex]f(x) = (0.07)^x[/tex], we can see than b= 0.07.
0.07 is less than 1.
Therefore, it would be an Exponential decay.
Now, let us find rate of decay.
1+r = 0.07.
Subtracting both sides by 1, we get
r = 0.07-1 = -0.93.
In percentage it would be 93%.
Therefore, correct option would be
