The cost of a pound of strawberries at a local market increases at a rate of 2.1% per year due to greater agricultural costs. The following exponential expression gives the cost of a pound of strawberries after t years.
3.50(1.021)
Which of the following expressions reveals the monthly rate of increase for the cost of a pound of strawberries?
O (1.002)^t/12
0 (0.998)^t/12
0 (0.998)^12t
(1.002)226
(1.002)^12t