Initially, a population is 500, and it grows by 4% each year. Explain why the population is an exponential function of time. The population grows by 4% each year, the population next year will be 4% more than the current population Score: 1 out of 1 Comment: Find a formula for the population at any time. (Lett represent time in years and Prepresent the population size) p(1+r) 1 x Determine the population size after 10 years. (Round your answer to the nearest whole number.) 740 Book