Answer:
The rate of decay is: [tex]2\%[/tex]
Step-by-step explanation:
Exponential functions are modeled by:
[tex]f(x) = a(b)^x[/tex]
Where [tex]a[/tex] is the y-intercept and b is the growth or decay constant. If [tex]b[/tex] is less than one, the function decays. If [tex]b[/tex] is greater than 1, the function grows.
To calculate the percentage, subtract [tex]b[/tex] from 1:
[tex]\% = 1 - b\\\% = 1 - 0.98\\\% = 0.02[/tex]
Multiply the result by 100 to get the percentage.
[tex]0.02 * 100 = 2\%[/tex]