By 2.4% of the tuition increase each year if the equation f(t) =is equal to 13,000(1.024)^t models the annual tuition at a private school over time, t. option (B) is correct.
What is an exponential function?
It is defined as the function that rapidly increases and the value of the exponential function is always a positive. It denotes with exponent [tex]\rm y = a^x[/tex]
where 'a' is a constant and a>1
We have a function:
[tex]\rm f(t) = 13,000(1.024)^t[/tex]
If we compare with the exponential growth function:
[tex]\rm f(x) = a(1+r)^x[/tex]
1 + r = 1.024
r = 0.024
r = 0.024×100 = 2.4%
Thus, the by 2.4% of the tuition increase each year if the equation f(t) =is equal to 13,000(1.024)^t models the annual tuition at a private school over time, t. option (B) is correct.
Learn more about the exponential function here:
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