Word Problem Help

Question

A city has a population of 300,000 people. Suppose that each year the population grows by 7.25%. What will the population be after 14  years?

Answer 1

pop=300,000e^.0725(14)= about 827,809

or

pop= 300000(1.0725)^14= about 799,252

1st assumes continuous growth

2nd sort of assumes a discontinuous jump in population at the end of each year

odds are you want the 2nd answer

real answer is somewhere in between