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“I can’t see the switch, but I’m guessing it is set for 2V per division.”
I’, pretty sure the switch was set at 1 volt per division in the photo you reference. We were cranking the audio (sine wave) level up and down on the signal generator and the total peak to peak voltage only increased slightly at we increased the audio level. The peak to peak voltage never exceeded 7 volts no matter how much we drove it.
EDIT: here’s the overmodulated pic. still a litle over 6 Vpp.
Here’s WAY over-modulated, still 6 VPP…