A City Was Incorporated in 2004 with a Population of 45,000

Essay

A city was incorporated in 2004 with a population of 45,000. It is expected that the population will increase at a rate of 2% per year. The population n years after 2004 is given by the sequence $P _ { n } = 45000 ( 1.02 ) ^ { n }$
(a) Find the first 5 terms of the sequence.
(b) Find the population in 2014.