Question

A initial investment of $10,000 grows at 11% per year. What function represents the value of the investment

after t years?
a. f(t) = 10000(0.11)t
c. f(t) = 10000(1.11)t
b. f(t) = 10000(12)t
d. f(t) = 10000(1.11)t

Answer 1

Growing implies that every year is bigger so the percentage have to be greater than 1

in this case
c. f(t) = 10000(1.11)t
d. f(t) = 10000(1.11)t

would be both answers given that 1.11 represents an increase of 11%