At the beginning of year 1, lisa invests $500 at an annual compound interest
rate of 3%. she makes no deposits to or withdrawals from the account.
which explicit formula can be used to find the account's balance at the
beginning of year 6? what is the balance?
o a. a(n) = 500 (1 + 0.03)(n = 1); $579.64
o b. a(n) = 500 + (0.03+500) -1); $584.50
o c. a(n) = 500 + (n - 1)(0.03 . 500); $575.00
o d. a(n) = 500 - (1 +0.03), $597.03