The population of a town with a 2000 population of 64,754 is decreasing at a rate of 3.2% per year. Create an exponential function for the population of the form
Q= Qx (1 + 1)^t
The exponential function for the population can be represented as:
P(t) = 64754 * (1 - 0.032)^t
Where:
P(t) is the population at time t
64754 is the 2000 population
0.032 is the rate of decrease per year
t is the number of years after 2000