The equation y = 3000(1 + 0.03)^n is used to model the amount of money, y, in dollars, in a savings account after n years. how would the equation be written if the interest rate had been 4% per year? a. y = 3000(1 + 0.03)^4 b. y = 3000(4 + 0.03)^n c. y = 3000(1 + 0.04)^n d. y = 3000(1 + 0.04)^4

The correct option is C.

Step-by-step explanation:

The given equation is

Where, y is the amount of money in dollars and n is number of years.

It is an exponential growth model. The standard form of this model is

Where, P₀ is initial amount, r is rate and t is time.

So according to the given equation initial amount of money is 3000, growth rate is 0.03 and time is n years.

If the growth rate is 4% or 0.04, then the model can be written as

Therefore option C is correct.

the answer is c. 23/3

i think the correct option is the second option.