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21 July, 11:55

The expression 1e^0.034^t models the balance, in thousands of dollars, where t represents time in years after an account was opened.

What does 0.034 represent in this context?

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  1. 21 July, 14:37
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    0.034 represents the constant of proportionality.

    Step-by-step explanation:

    When we use exponential models to study a problem, the coefficient of the independent variable, which is time, represents the constant of proportionality.

    Therefore, 0.034 represents the constant of proportionality.
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