Due to new development, the value of a house is estimated to change each year , t. the function v(t)=174,000(1.04)t represents the value of the house t years after 2020. What does 1.04 represent?

Monthly water bills for a city have a mean of $108.43 and a standard deviation of $36.98. find the probability that a randomly selected bill will have an amount greater than $173, which the city believes might indicate that someone is wasting water. would a bill that size be considered unusual?