Find the Exponential Function That Satisfies the Given Conditions $= 30,848$

Multiple Choice

Find the exponential function that satisfies the given conditions.
-Initial population $= 30,848$ , increasing at a rate of $3 \%$ per year

A) $\mathrm { P } ( \mathrm { t } ) = 3 \cdot 30,848 ^ { \mathrm { t } }$
B) $\mathrm { P } ( \mathrm { t } ) = 30,848 \cdot 3 ^ { \mathrm { t } }$
C) $\mathrm { P } ( \mathrm { t } ) = 30,848 \cdot 1.03 ^ { \mathrm { t } }$
D) $\mathrm { P } ( \mathrm { t } ) = 30,848 \cdot 0.03 \mathrm { t }$