Sean's house is currently worth $188,900. According to a realtor, house prices in Sean's neighborhood will increase by 4.8% every year. The given function represents the value of Sean's house after t years.
f (t) = 188,900 (1.048) ^t
Which statement is true?
A.
The expression (1.0237) 12t reveals the approximate monthly growth rate of the value of Sean's house.
B.
The expression (1.0237) 4t reveals the approximate quarterly growth rate of the value of Sean's house.
C.
The expression (1.0118) 4t reveals the approximate quarterly growth rate of the value of Sean's house.
D.
The expression (1.0118) 12t reveals the approximate monthly growth rate of the value of Sean's house.
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