The exponential equation used to represent the population of the town is given by y = 5655(1.026)ˣ
An exponential function is in the form:
y = abˣ
where y, x are variables, a is the initial value of y and b is the multiplier.
Let y represent the population remaining after x years.
The population grow at the rate of 2.6% annually. Hence:
b = 100% + 2.6% = 1.026
There are initially 5655 people, hence a = 5655.
The equation becomes:
y = 5655(1.026)ˣ
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