Two towns, Town P and Town Q, are tracking their populations. Town P currently has 15,000 residents and its population grows by 3% annually. Town Q currently has 18,000 residents and its population increases by a fixed 500 residents annually. Which of the following statements is true regarding the populations of these towns?
Town P's population will always be less than Town Q's population.
Town P's population is greater than Town Q's population at first, but eventually becomes less.
Town Q's population is greater than Town P's population at first, but eventually becomes less.
Town Q's population will always be less than Town P's population.
