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Math·Advanced Math·Nonlinear functions

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The value of a share of stock was $240 on the day it was purchased. Every year, the value of the share of stock increases by 1% of its value the previous year. Which function $V$ gives the value, in dollars, of the share of stock $t$ years after the day it was purchased?

A

$V(t)=240(1.01t)$

B

$V(t)=240(1.1t)$

C

$V(t)=240(1.01{)}^t$

D

$V(t)=240(1.1{)}^t$