Answer:
Correct choice is exponential decay of 7%
Step-by-step explanation:
The function that represents exponential growth can be written as [tex]y=a\cdot (1+r)^x,[/tex] where r is the rate of growth (as decimal).
The function that represents exponential decay can be written as [tex]y=a\cdot (1-r)^x,[/tex] where r is the rate of decay (as decimal).
In your case, the expression for the function is
[tex]y=(0.93)^x=(1-0.07)^x.[/tex]
Therefore, it represents the exponential decay at the rate of 7% (0.07=7%).
