In this case, we'll have to carry out several steps to find the solution.
Step 01:
Data
population = 10000
rate = 12% = 0.12
function = ?
Step 02:
Exponential Function:
function = population * rate ^ time
= 10000 * 0.12 ^ t
The answer is:
function = 10000 * 0.12 ^ t
