To complete the interpretation of the exponential function, you can fill in the blanks as follows:
Blank space 1: decreasing
Blank space 2: 2
So the complete interpretation would read:
"The population of a town is modeled by the exponential function f of x equals 34820 left-parenthesis 0.98 right-parenthesis Superscript x Baseline, where x is the number of years since 2010. According to the model, the population of the town has been decreasing by 2 percent each year since 2010."