Item 4 Identify the initial amount $a$ and the rate of growth $r$ (as a percent) of the exponential function $y=12\left(1.05\right)^t$ . Evaluate the function when $t=5$ . Round your answer to the nearest tenth.

Item 4
Identify the initial amount $a$ and the rate of growth $r$ (as a percent) of the exponential function $y=12\left(1.05\right)^t$ . Evaluate the function when $t=5$ . Round your answer to the nearest tenth.