5000 dollars at 0 years. 30000 at 16 years
Lincoln’s parents invested $5,000 in a college savings account when he was born. If the account has a growth rate of 12%, the situation can be modeled by the equation a(t)=5,000(1.12)t
, where a is the amount after t years. Which one of the following statements is true about the graph of the function?
(1 point)
Responses
As t increases, a decreases slowly at first and then quickly.
As t increases, a decreases slowly at first and then quickly .
As t increases, a increases slowly at first and then quickly.
As t increases, a increases slowly at first and then quickly .
As t increases, a increases quickly at first and then slowly.
As t increases, a increases quickly at first and then slowly .
As t increases, a decreases quickly at first and then slowly.
1 answer
The correct statement regarding the graph of the function \( a(t) = 5,000(1.12)^t \) is:
As t increases, a increases quickly at first and then slowly.
This is because exponential growth begins slowly when \( t \) is small but accelerates and increases more rapidly as time goes on.
