Samra's guardians invested money for her into a 529 College Savings Plan, which compounds annually. The growth of the savings plan per year, x, can be represented by the exponential function f(x) = 500(1.03)x. What is the meaning of the y-intercept in the context of the problem?
A. The percent rate of change is 500%.
B. The initial value of the investment is $500.
C. The principal amount put into the savings plan is $1.03.
D. The average rate of change that is occurring is 1.03.