To find the number of years after 2012 that the town's population will double to 40,000, we can set up the equation based on the population model provided:
Given:
\[ p = 20,000 e^{0.02t} \]
We want to find \( t \) when \( p = 40,000 \). So, we set up the equation:
\[ 40,000 = 20,000 e^{0.02t} \]
Now, divide both sides by 20,000:
\[ \frac{40,000}{20,000} = e^{0.02t} \]
This simplifies to:
\[ 2 = e^{0.02t} \]
To solve for \( t \), we take the natural logarithm of both sides:
\[ \ln(2) = \ln(e^{0.02t}) \]
Using the property of logarithms that \( \ln(e^x) = x \), we have:
\[ \ln(2) = 0.02t \]
Now we can solve for \( t \):
\[ t = \frac{\ln(2)}{0.02} \]
This equation can be used to find the number of years after 2012 that the population will double to 40,000.