A model predicts that the population of a certain town was $5,000$ in…

Question

Prompt

A model predicts that the population of a certain town was

5, 000

in 2008. The model also predicts that each year for the next

5

years, the population

p

increased by

4

% of the previous year's population. Which equation best represents this model, where

x

is the number of years after 2008, for

x \leq 5

p = 0.96 (5, 000)^{x}

p = 1.04 (5, 000)^{x}

p = 5, 000 (0.96)^{x}

p = 5, 000 (1.04)^{x}