Answer:
3%
Step-by-step explanation:
This equation represents exponential decay. Whenever the base is less than 1, the function represents decay. When the base is greater than 1, the function represents growth. In this case, the base is .97 which is less than 1, representing decay.
The formula for exponential decay is y=a(1-r)x.
r is the decay rate, expressed as a decimal.
In this case, r = .03 which represents 3%!
