The population of Washington has been decreasing exponentially since the major employer left town. After 8 years the population was 68,532 and after 9 years it was 65,791.Write an equation forp (t), the population of Washington, + years after the employer left town.Use the caret symbol (^) for exponents and the equation form:y = a(b)^xUse the variables:t = amount of time elapsed since the employer left town (years)P(t) = the population of the town after t yearsRound the base (constant multiplier/ratio) to the nearest hundredth.Use substitution to find an accurate initial value. Round the initial value to the nearest whole value.Do not use commas or spaces in your equation.Equation: