A certain neighborhood had a population of $1340$ in 2009. Each year …

Question

Prompt

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 \leq 5

N = 0.03 (1340)^{t}

N = 1340 (0.03)^{t}

N = 1340 (1.03)^{t}

N = 1.03 (1340)^{t}