Given:
Initial profit = $100,000
Increasing rate of profit = 1.2%
To find:
The function that shows the company's profit as a function of time in years.
Solution:
The exponential growth model is defined as:
[tex]f(t)=a(1+r)^t[/tex]
Where, a is the initial value, b is the growth rate and t is the time period.
Putting a=100,000 and r=0.012, we get
[tex]f(t)=100,000(1+0.012)^t[/tex]
Where, t is the number of years.
Therefore, the correct option is c.
