The population of a town is modeled by the function , where is the population years after the year 2000. Which statement best describes the meaning of the number 1.02 in this function?
The population increases by 2% each year.
The initial population of the town in the year 2000 was 1.02 people.
The population increases by 102 people each year.
The population doubles every 1.02 years.
