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To find the number of students expected in 2015, we need to substitute t=20 into the equation P(t)=550(1.12)^t:
P(20) = 550(1.12)^20
Using a calculator, we can evaluate this expression to find:
P(20) ≈ 550(3.1058) ≈ 1708
Therefore, they can expect approximately 1708 students in 2015.