The equation you provided is in the form of exponential decay:
\[ y = 4,060(1 - 0.05)^t \]
In this equation, the term \(0.05\) represents the decay factor. To convert this into a percentage, we multiply by 100:
\[ 0.05 \times 100 = 5% \]
Therefore, the correct option that represents the rate of decay for the species is:
Option #3: The rate of decay is 5%.