The population of a certain town, , can be modeled by the equation , where is the number of years after January 1, 2010. Which of the following statements is true about the town's population according to this model?
The population decreases by 3% each year.
The population on January 1, 2010, was 15,000.
The population increases by 103% each year.
The population will reach 15,000 after 3 years.
