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Answer :
We start with the equation
$$
p = 10000(1.04)^{-t}.
$$
Recall that a negative exponent means taking the reciprocal. Therefore,
$$
(1.04)^{-t} = \left(\frac{1}{1.04}\right)^t.
$$
Next, we express $1.04$ as a fraction. Notice that
$$
1.04 = \frac{26}{25}.
$$
Taking the reciprocal gives
$$
\frac{1}{1.04} = \frac{1}{\frac{26}{25}} = \frac{25}{26}.
$$
Thus, we have
$$
\left(\frac{1}{1.04}\right)^t = \left(\frac{25}{26}\right)^t.
$$
Substituting this back into the original equation, it becomes
$$
p = 10000\left(\frac{25}{26}\right)^t.
$$
Therefore, the equivalent expression is
$$
p = 10000\left(\frac{25}{26}\right)^t.
$$
Comparing this with the given options, the correct choice is option 2.
$$
p = 10000(1.04)^{-t}.
$$
Recall that a negative exponent means taking the reciprocal. Therefore,
$$
(1.04)^{-t} = \left(\frac{1}{1.04}\right)^t.
$$
Next, we express $1.04$ as a fraction. Notice that
$$
1.04 = \frac{26}{25}.
$$
Taking the reciprocal gives
$$
\frac{1}{1.04} = \frac{1}{\frac{26}{25}} = \frac{25}{26}.
$$
Thus, we have
$$
\left(\frac{1}{1.04}\right)^t = \left(\frac{25}{26}\right)^t.
$$
Substituting this back into the original equation, it becomes
$$
p = 10000\left(\frac{25}{26}\right)^t.
$$
Therefore, the equivalent expression is
$$
p = 10000\left(\frac{25}{26}\right)^t.
$$
Comparing this with the given options, the correct choice is option 2.
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