Answer:
"the population of the small town is growing at a rate of 4% per year (years after 2005)."
Step-by-step explanation:
The basic equation is:
[tex]F=P(1+r)^t[/tex]
Where
F is the future amount
P is the present amount
r is the rate of growth per year (if negative, then rate of decline)
t is the time in years
From the equation given:
[tex]P_N=4000*1.04^n[/tex]
We can write 1.04 as (1+0.04) so when comparing with the formula we see that r = 0.04, that is 4%. Thus, we can say the population of the small town is growing at a rate of 4% per year (years after 2005).
