Find the exponential function that satisfies the given conditions.
-Initial value $= 38$, increasing at a rate of $8 \%$ per year
A) $f ( t ) = 38 \cdot 8 ^ { t }$
B) $f ( t ) = 38 \cdot 0.08 \mathrm { t }$
C) $f ( t ) = 38 \cdot 1.08 ^ { t }$
D) $f ( t ) = 8 \cdot 1.08 ^ { t }$

Question

Quizplus · Accepted Answer

The correct exponential function for a quantity that starts with an initial value and increases at a constant percentage rate per time period is given by $f(t) = \text{initial value} \cdot (1 + \text{rate})^t$. Here, with an initial value of 38 and an 8% (or 0.08) increase per year, the function is $f(t) = 38 \cdot 1.08^t$.

Find the Exponential Function That Satisfies the Given Conditions =38= 38=38

Find the Exponential Function That Satisfies the Given Conditions $= 38$