Answer: [tex]P=2000(1.04)^t[/tex].
Step-by-step explanation:
It is given that,
Initial population of a town = 2000
Growth rate = 4% = 0.04 per year
The exponential growth function for population is
[tex]P=P_0(1+r)^t[/tex]
where, [tex]P_0[/tex] is initial population, r is growth rate and t is number of years.
Substitute [tex]P_0=2000,r=0.04[/tex] in the above equation.
[tex]P=2000(1+0.04)^t[/tex]
[tex]P=2000(1.04)^t[/tex]
Therefore, the required equation is [tex]P=2000(1.04)^t[/tex], where P is population after t years.
