Select the correct answer from each drop-down menu. The function below describes the number of students who enrolled at a university, where f(t) represents the number of students and trepresents the time in years. f(t)=18,500(1.03)^t Initially, square students enroll at the university. Every square - the number of students who enroll at the university increases by a factor of square

The function \( f(t) = 18,500(1.03)^t \) describes the number of students enrolled at a university over time.<br /><br />Initially, \( 18,500 \) students enroll at the university. This is because when \( t = 0 \), \( f(0) = 18,500(1.03)^0 = 18,500 \).<br /><br />Every \( \text{year} \), the number of students who enroll at the university increases by a factor of \( 1.03 \). This is indicated by the base of the exponential function, which is \( 1.03 \).<br /><br />So, the completed sentence is:<br />Initially, \( 18,500 \) students enroll at the university. Every \( \text{year} \), the number of students who enroll at the university increases by a factor of \( 1.03 \).