The town of Frostbite Falls records its population at the end of a given year as 70,000. After 1 year, the population increases by 2.4%. After the next year, the population again increases by 2.4%, and the pattern continues each year. What is the y-intercept of the exponential function that models this growth? (1 point) The y-intercept is (0, 0). The y-intercept is (0, 2.4). The y-intercept is (0, 70, 000). The y-intercept is (70, 000, 0).