The population of a town is 12,000, and it grows at a rate of 5% per year. Write an exponential function in the form that represents the situation

Exponential function:

Step-by-step explanation:

Exponential function: , a = initial value , x= time,  b= growth factor , b= 1+r , where r=rate of growth.

Given: Initial population = a= 12,000,

rate of growth = r= 5% = 0.05

Then, b=  1+r= 1+ 0.05 = 1.05

Substitute value of a and b in (i), we get

Hence, The required exponential function: , where x= time.