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