In the given situation with the equation \( b(t) = 1,000,000 (0.78)^t \), let's analyze the statements regarding the key features of the exponential graph.
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Statement #1: The graph of the function has a horizontal asymptote at \( t=0 \).
- This statement is false. Horizontal asymptotes are related to the behavior of the function as \( t \) approaches infinity, not a specific value of \( t \).
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Statement #2: The graph of the function has a horizontal asymptote at \( b=0 \).
- This statement is true. As \( t \) approaches infinity, the value of \( b(t) \) approaches 0. Thus, the horizontal asymptote is at \( b = 0 \).
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Statement #3: The graph of the function has a vertical asymptote at \( t=0 \).
- This statement is false. Vertical asymptotes typically occur where the function is undefined. In this case, the function is defined for \( t = 0 \) and does not have a vertical asymptote.
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Statement #4: The graph of the function has a vertical asymptote at \( b=0 \).
- This statement is false. Similar to the previous reasoning, a vertical asymptote cannot occur at a certain value of \( b\). The function does not become undefined at \( b = 0 \).
Therefore, among the statements given, only Statement #2 is true.