20. \( A(t)=300(1.07)^{t} \)

Did you know that exponential functions like \( A(t)=300(1.07)^{t} \) model real-world growth phenomena? This particular equation represents a quantity growing at an annual rate of 7%. Think about how investments might appreciate over time, or how populations can increase. These functions are essential for understanding everything from finance to biology! On the problem-solving front, a common mistake with exponential growth equations is forgetting to apply the formula correctly when changing time intervals. For example, if you switch from years to months, ensure you adjust the rate accordingly! Similarly, always check your calculations to avoid compounding errors, which can lead to wildly inaccurate predictions!