The population of a city has been increasing by 2% annually. The sign shown is from the year 2000. A signboard reads, City limit: Brookfield population, 315 thousand.
Write an exponential growth function that represents the population $t$t years after 2000.

y is equal to$y=$y= 315 comma 000 times 1 point 0 2 to the t th power315,000(1.02)t.

What will the population be in 2020? Round your answer to the nearest thousand.