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HSF.IF.C.8.b Tutor Intake — Interpreting Exponential Function Parameters

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Grade 9·11 problems·~13 min·Common Core Math - HS Functions·standard·hsf-if-c-8b

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A savings account earns $1\%$ interest per month, modeled by $y = P(1.01)^{12t}$
where $t$ is measured in years.

Which expression shows the equivalent annual growth factor?

$(1.01 \cdot 12)^t = (1.12)^t$

$(1.01)^{12t}$ cannot be rewritten as a single base raised to $t$ .

$\bigl((1.01)^{12}\bigr)^t \approx (1.1268)^t$

$(1.01 + 12)^t = (13.01)^t$