To find the answer, we will need to replace the population P by 50,000 and solve the initial equation for t because t is the number of years after 2012.
So, we get:
Now, we need to remember some properties of the logarithms:
Then, we can solve for t as:
So, using the property, we get:
Finally, dividing by 0.03 into both sides, we get that the number of years after 2012 that the population will be 50,000 is:
Answer: t = ln2/0.03