Hi there!
As you mentioned in the question -- growth:
[tex]a = p(1 + r) ^{n} [/tex]
We plug in the data from the question into the formula to find our answer.
p = initial value = 1,000 people
r = increasing rate = 5% = 0.05
(We've found this number by dividing by 100)
n = amount of years = 5
a = outcome
[tex]a = 1000(1 + 0.05) {}^{5} \\ a = 1000(1.05) {}^{5} \\ a = 1276.28[/tex]
Therefore the population consists of 1276 people after 5 years.
~ Hope this helps you!
