Answer: the population after 10 years is 12036
Explanation:
We would apply the formula for exponential growth which is expressed as
A = P(1 - r)^ t
Where
A represents the population after t years.
t represents the number of years.
P represents the initial population.
r represents rate of growth.
From the information given,
P = 14000
r = 1.5% = 1.5/100 = 0.015
t = 10 years
Therefore, the exponential decay equation to find the population of the town after 10 years is
A = 14000(1 - 0.015)^10
A = 14000(0.985)^10
A = 12036