1. **State the problem:** We want to predict the population of Rexburg in 2028 given the population in 2023 and an annual growth rate.
2. **Formula used:** The population growth can be modeled by the exponential growth formula:
$$P(t) = P_0 (1 + r)^t$$
where:
- $P(t)$ is the population after $t$ years,
- $P_0$ is the initial population,
- $r$ is the growth rate per year (as a decimal),
- $t$ is the number of years after the initial time.
3. **Identify values:**
- Initial population $P_0 = 36293$
- Growth rate $r = 1.53\% = 0.0153$
- Number of years $t = 2028 - 2023 = 5$
4. **Calculate the population in 2028:**
$$P(5) = 36293 \times (1 + 0.0153)^5 = 36293 \times (1.0153)^5$$
5. **Calculate $(1.0153)^5$ step-by-step:**
$$ (1.0153)^5 = 1.0153 \times 1.0153 \times 1.0153 \times 1.0153 \times 1.0153 $$
Using a calculator, this is approximately $1.0797$.
6. **Multiply to find population:**
$$P(5) = 36293 \times 1.0797 = 39156.5$$
7. **Round to nearest whole number:**
$$\boxed{39157}$$
So, the predicted population of Rexburg in 2028 is approximately 39157 people.
Population Growth E95399
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