2) At the beginning of the year, the number of books owned by a library was Since then, it has grown by \( 1 \% \) each month. Which expressions represent the number of books, in thousands, owned library 5 years later if it continues to grow at that rate? \( \begin{array}{ll}\text { A) } 10 \cdot\left((1+0.01)^{12}\right)^{5} & \text { B) } 10 \cdot\left(1+0.01^{12}\right)^{60} \\ \text { C) } 10 \cdot(1.01)^{5} & \text { D) } 10 \cdot(1.01)^{60} \\ \text { E) } 10 \cdot(0.01)^{60} & \end{array} \)

To calculate the number of books owned by the library after 5 years of 1% growth each month, you should recognize that each year has 12 months. Therefore, in 5 years, there are \( 5 \times 12 = 60 \) months. The expression that reflects this consistent monthly growth would be based on \( (1.01) \) raised to the power of 60 months, along with the initial number of books in thousands, which is represented as \( 10 \). Hence, the correct expression is \( 10 \cdot (1.01)^{60} \). To put this in a broader context, the concept of exponential growth isn't just limited to libraries or books! It applies to populations, investments, technology usage, and so many other areas in real life. Understanding this principle allows us to see how small, consistent changes can lead to significant results over time — a powerful concept in finance and sustainability as well!