Question: Initially, a population is 500, and it grows by 4% each year. Explain why the population is an exponential function of time. Find a formula

Initially, a population is 500, and it grows by 4% each year. Explain why the population is an exponential function of time. Find a formula for the population at any time. (Lett represent time in years and represent the population size.) Determine the population size after 5 years. (Round your answer to the nearest whole number.)

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