There were 417 cell phones sold at an electronics store in January. Since then, cell phone sales at this store have increased at a rate of 3.75% per month. At this rate of growth, which function can be used to determine the monthly cell phone sales m months after January?

Question

P(m) = 417(0.0375)m
B
P(m) = 417(1.0375)™
P(m) = 417(0.9625)(m+1)
P(m) = 417(0.0375)(m+1)

Answer 1

The correct function that can be used to determine the monthly cell phone sales m months after January is:

P(m) = 417(1.0375)^m