Without going any further in solving this equation, it is possible to
get a sense of the effect of the modulation index from
We may see that if is a constant (and it's derivative is zero), the third term goes away and the instantaneous frequency becomes
Notice now that in the second term, the quantity multiplies a sinusoidal variation of frequency , indicating that determines the maximum amount by which the instantaneous frequency deviates from the carrier frequency .
Since the modulating frequency is at audio rates, this translates to addition of harmonic content.
Since is a function of time, the harmonic content, and thus the timbre, of the synthesized sound may vary with time.