To find the initial population size, we need to solve for P when t = 0.
P(0) = 370(1.32)^0 = 370
So the initial population size is 370.
The function represents growth because the base of the exponential term is greater than 1.
To find the percent change in population size each year, we can subtract 1 from the base of the exponential term and convert the result to a percentage:
Percent change = (1.32 - 1) x 100% = 32%
So the population size increases by 32% each year.