It is Known that A(t)=e^kt is the exponential growth or decay function. Describe what you know about the variable k in the two following scenarios:

1) Glenda is seeking to invest into an account set aside for her newborn grandson. She has talked to various financial institutions and has decided to invest in a bank that provides continuously compounding interest.

2)Samuel is in a chemistry course where he is studying carbon dating. After a plant dies, the radiocarbon disintegrates. Scientists can determine the age of the remains by comparing the amount of radiocarbon with the amount present in living plants and animals. The amount of radiocarbon present after t years is modeled using the above function.

Can someone explain to me how k is used in each scenario? Thanks!