Interpreting Parameters in Linear/Exponential Models Practice Test

A science lab grows a bacteria culture modeled by $N(t) = 300(1.10)^t$, where $t$ is in hours and $N(t)$ is the number of bacteria. What does 1.10 represent in this context?

The value of a laptop after $t$ years is modeled by $V(t) = 1200(0.85)^t$, where $V$ is in dollars. What does $0.85$ represent in this context?