Which statement(s) can be interpreted from the equation for a real estate value, V(C)=228,000(1.03)' where V(C) represents the value of the real estate and t represents the time in years?
The equation is an exponential growth equation.
The equation is an exponential decay equation
The equation is neither exponential decay nor exponential growth
$228,000 represents the initial cost of a real estate that appreciates 3% per year over the course of years.
$228,000 represents the initial cost of a real estate that appreciates 30% per year over the course of t years
$228,000 represents the initial cost of a real estate that depreciates 3% per year over the course of t years
$228,000 represents the initial cost of a real estate that depreciates 30% per year over the course of t years