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{{ printedBook.courseTrack.name }} {{ printedBook.name }} First, we write an exponential function to model the given situation, thus, recall its general form. $y=ab_{x} $ In this formula, $a$ is the initial value and $b=1+r,$ where $r$ is the rate of change. If the function represents growth then $r>0.$ Conversely, if it represents decay, then $r<0.$

To write the equation, we first need to define the variables. Let $y$ be the population, and $x$ the number of years after that have passed. In this case, the initial value is a population of $120000.$ Since the population **increases** $1.2%$ each year, we have that $r=0.012.$
$y=120000[1+0.012]_{x}⇕y=120000(1.012)_{x} $

$y=120000(1.012)_{x}$

Substitute$x=15$

$y=120000(1.012)_{15}$

CalcPowCalculate power

$y=120000(1.195935307…)$

MultiplyMultiply

$y=143512.2368…$

RoundIntRound to nearest integer

$y≈143512$