Laurent invested some money in a bank account. The relationship between the elapsed time, $t$, in decades, since Laurent invested the money, and the total amount of money in the account, $M_{\text{decade}}(t)$, in dollars, is modeled by the following function: ###$M_{\text{decade}}(t)=4900\cdot (1.5)\^{\Large t}$ **Complete the following sentence about the *yearly* rate of change in the amount of money in the account.** *Round your answer to two decimal places.* Every ***year***, the amount of money in the account increases by a factor of [[☃ math-keypad 1]].