The Solution:
The correct answer is [ option 1 ]
Given:
We are required to determine the statement that is represented by the given formula.
Explanation:
[tex]A=1500(1.04)^3=1500(1+\frac{4}{100})^3=P(1+\frac{r}{100})^n[/tex]
From the above equation, we can see that:
[tex][/tex]
