The projected value of an investment is modeled by the exponential function $V(t)=30,000(1.125)^{t}$, where $V(t)$ is the total value after $t$ years. What is the percent increase each year for the investment?
Answer
Final Answer: The percent increase each year for the investment is \(\boxed{12.5\%}\).
Step 1 ：The projected value of an investment is modeled by the exponential function $V(t)=30,000(1.125)^{t}$, where $V(t)$ is the total value after $t$ years.
Step 2 ：The percent increase each year for the investment is represented by the base of the exponent in the exponential function, which is 1.125 in this case.
Step 3 ：To convert this to a percentage, we subtract 1 and multiply by 100.
Step 4 ：percent_increase = (1.125 - 1) * 100
Step 5 ：percent_increase = 12.5
Step 6 ：Final Answer: The percent increase each year for the investment is \(\boxed{12.5\%}\).
