For this case we have a function of the form: y = A * (b) ^ t Where, A: initial amount b: growth rate t: time Substituting values we have: y = 1000 * (3) ^ ((1/8) * t) For 24 years we have: y = 1000 * (3) ^ ((1/8) * 24) y = 27000 Answer: D) 27,000; exponential