A town has a population of 2000 people at time t = 0.

Question

In each of the following cases, write a formula for the population, P, of the town as a function of year t.
(a) The population increases by 60 people per year.

I thought it would be P= 2000 (1.03)^t

(b) The population increases by 5% per year.

I thought it would be P = 2000 (.95)^t

Answer 1

(1) 60 is just a number, not a percentage
P = 2000 + 60t

(2) P is increasing, so you want

P = 2000 * 1.05^t

0.95^t means that each year the population decreases by 5%

Answer 2

Thank you so much for all of your help!