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Math·Advanced Math·Nonlinear functions

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A certain neighborhood had a population of $1340$ in 2009. Each year for the next $5$ years, the population of the neighborhood increased by approximately $3\%$ of the population the previous year. Which of the following equations represents the population, $N$, of the neighborhood $t$ years after 2009, where $t\le 5$?

A

$N=0.03(1340{)}^t$

B

$N=1340(0.03{)}^t$

C

$N=1340(1.03{)}^t$

D

$N=1.03(1340{)}^t$