The initial population in 2013 is given to be 32,000
The exponential function can be derived as follows
[tex]P=P_0(\frac{100+r}{100})^n[/tex]where
[tex]\begin{gathered} P_0=\text{initial population} \\ r=\text{rate of growth} \\ n=n\nu\text{mber of years} \end{gathered}[/tex]In our case
[tex]\begin{gathered} P_0=32,000 \\ r=1.2 \\ n=n \end{gathered}[/tex]Upon substituting
[tex]P=32000(\frac{100+1.2}{100})^n[/tex]This is simplified to give
[tex]P=32000(1.012)^n[/tex]