Answer
The function represents exponential decay and the rate of decay is $5\%$
Work Step by Step
The given function is
$\Rightarrow y=30(0.95)^t$
$\Rightarrow y=30(1-0.05)^t$
The function is of the form
$y=a(1-r)^t$, where $1-r<1$.
So, it represents exponential decay.
Decay factor is
$\Rightarrow 1-r=0.95$
Add $r-0.95$ to each side.
$\Rightarrow 1-r+r-0.95=0.95+r-0.95$
Simplify.
$\Rightarrow 0.05=r$.
$\Rightarrow r=5\%$.
Hence, the function represents exponential decay and the rate of decay is $5\%$
