Exponential Functions Practice Test

A town has 150,000 residents and grows 1.8% annually, modeled by $P(t)=150000\cdot(1.018)^t$. What is the rate of change described in the scenario?

A $\$12{,}000$ account increases 3.5% per year, modeled by $V(t)=12000\cdot(1.035)^t$. Which equation represents the scenario described?