What is the percent rate of change in function y=(0.96)^x? determine whether the function represents exponential growth or exponential decay?

a.) 4%, decay
b.) 4%, growth
c.) 0.4%, growth
d.) 0.04%, decay

In the equation, y is the dependent variable, varying as x changes. Every time x changes, the original value of y is multiplied by 0.96. When we multiply any number by 0.96, we see that it decreases. The decrease is by 0.04 times. Expressed as a percentage, this is 4%. Another word used to express decrease is decay. Therefore, the exponential function y = 0.96^x represents an exponential decay of A. 4%.