Answer:
610,517 people
Step-by-step explanation:
This is exponential. The standard form for this function is
[tex]y=a(b)^x[/tex] where a is the initial amount, and b will be replaced with (1+r), which is the growth rate. t is time in years. Our particular model then is
[tex]y=360000(1.045)^x[/tex]
To solve the probelm, we will simply replace x with 12 and solve for y:
[tex]y=360000(1.045)^{12}[/tex]
which gives us
y = 610,517 people
