Answer :
We are given that the function can be expressed as
[tex]$$
f(x) = \left(1 + \frac{p}{100}\right)^x.
$$[/tex]
If we observe that the equivalent expression is written with a base of approximately [tex]$1.21$[/tex], we can set up the following equation:
[tex]$$
1 + \frac{p}{100} = 1.21.
$$[/tex]
Subtracting [tex]$1$[/tex] from both sides, we get:
[tex]$$
\frac{p}{100} = 1.21 - 1 = 0.21.
$$[/tex]
Multiplying both sides by [tex]$100$[/tex] to solve for [tex]$p$[/tex], we obtain:
[tex]$$
p = 0.21 \times 100 = 21.
$$[/tex]
Thus, the value of [tex]$p$[/tex] is [tex]$21$[/tex], which corresponds to answer choice (B).
[tex]$$
f(x) = \left(1 + \frac{p}{100}\right)^x.
$$[/tex]
If we observe that the equivalent expression is written with a base of approximately [tex]$1.21$[/tex], we can set up the following equation:
[tex]$$
1 + \frac{p}{100} = 1.21.
$$[/tex]
Subtracting [tex]$1$[/tex] from both sides, we get:
[tex]$$
\frac{p}{100} = 1.21 - 1 = 0.21.
$$[/tex]
Multiplying both sides by [tex]$100$[/tex] to solve for [tex]$p$[/tex], we obtain:
[tex]$$
p = 0.21 \times 100 = 21.
$$[/tex]
Thus, the value of [tex]$p$[/tex] is [tex]$21$[/tex], which corresponds to answer choice (B).