The value of an investment is modeled by the equation $$V(t) = 4280(1.0401)^{12t}$$ Where $V(t)$ is the value of the investment in dollars and $t$ is the number of years since the investment was made. The growth factor $1.0401$ represents a $4.01 \%$ increase on the investment, which is sometimes called the “return” on the investment.

1. For one year, $t=1\text{.}$ What is the value of the exponent?
   The exponent is after one year.
2. For each year that goes by, how often is the $4.01 \%$interest compounded?
   times each year.
3. In $3$ years, how many times will the $4.01 \%$ interest be compounded?
   Interest is compounded times.
4. What is the meaning of each formula listed below?
   1. $4280(1.0401)^{12t}$ means ? Investment is compounded continously thoughout the year Investment is compounded every 12 years Investment is compounded 12 times each year Investment grows by 12 percent
   2. $4280(1.0401)^{\frac{t}{12}}$ means ? Investment is compounded continously thoughout the year Investment is compounded every 12 years Investment is compounded 12 times each year Investment grows by 12 percent
   3. $4280e^{0.0401t}$ means ? Investment is compounded continously thoughout the year Investment is compounded every 12 years Investment is compounded 12 times each year Investment grows by 12 percent