Write the exponential function y= 500e-0.07t in the form y =abt(a) Once you have rewritten the formula, give b accurate to at least four decimal places.b= _______ help (numbers)If t is measured in years, indicate whether the exponential function is growing or decaying and find the annual growth/decay rate. The rate you determine should bepositive in either the case of growth or the case of decay (by choosing decay, the negative rate is implied).(b) The annual ? rate is % per year (round to the nearest 0.01%).