The horizontal asymptote is y = -7.
The horizontal asymptote of an exponential function is determined by its vertical shift. If the function is shifted down n units, the horizontal asymptote will be y = -n. Therefore, in this case, the horizontal asymptote is y = -7.
Increase of 30%: The 30% increase tells us about the slope of the function in a specific region and doesn't directly affect the horizontal asymptote.
Ordered pair (0, -3): This point tells us about the initial value of the function, not its horizontal behavior as x approaches infinity or negative infinity.
Shifted down 7 units: Since the function is shifted down 7 units, its horizontal asymptote will also be shifted down by the same amount. Therefore, it will be at y = -7, not any of the other options.