Question

If $1,000 is invested in an account that pays 3% interest compounded annually, an expression that represents the amount in the account at the end of two years can be given by which of the following equations?


A. 1000(0.3)^2
B. 1000 +0.2^3
C. 1000(1.03)^2

I think its C but im not sure.

Answer 1

c

Answer 2

because its an exponential function