[tex]\begin{gathered} \text{when we have an exponential equation} \\ p(t)=a\times(r)^t \\ \text{ r is the ratio! } \\ \text{if r>1, p(t) is increasing! } \\ \text{if r<1, p(t) is decreasing. } \\ 1.036=1+0.036 \\ 0.036\text{ corresponds with 3.6\%} \\ \text{ thus the population of the town is encreasing at a rate of 3.6\% every year!} \end{gathered}[/tex]
