An exponential growth function is represented by y = a(1+r)^{t} where, a is the initial amount, r is the rate of interest and t is the time. The rate of interest, r, is a decimal number.

If the initial amount, a, was $163,00 and r = 8% = \frac{8}{100} = 0.08, then the growth function will be y = 163,000(1+0.08)^{t}

This can also be written as y = 163,000(1.08)^{t}. Is it not?

**So, there are two ways of writing this expression. **

Now, coming back to the given question, plug in the given values

Replace a (initial amount )which was $163,000 with $156,000 and r which was 0.08 with r = 0.12, to get two correct expressions as above.

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I found an answer from fcic-static.law.stanford.edu

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I found an answer from www.quora.com

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