A small nest of wasps has an exponential growth rate of 13% per month. If the nest currently has 5,000 wasps, the situation can be modeled by the equation w(t)=5,000(1.13)t

, where w is the number of wasps after time t months. Which of the following statements is true about the equation?

The correct statement about the equation is that it represents the exponential growth of a small nest of wasps over time.