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CLEP

At the beginning of each year, the population of a small town is predicted to be 2 percent greater than its population at the beginning of the preceding year. If P is the population of the town on January 1, 2018, what is the predicted population of the town on January 1, 2023?

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left parenthesis 5 times 0.02 right parenthesis P

Correct Answer: 
No

left parenthesis 1 plus 5 times 0.02 right parenthesis P

Correct Answer: 
No

open parentheses 1.02 plus 5 close parentheses P

Correct Answer: 
No

left parenthesis 0.02 right parenthesis to the power of 5 P

Correct Answer: 
No

left parenthesis 1.02 right parenthesis to the power of 5 P

Correct Answer: 
Yes