In 2017 , the world's population reached 7.41 billion 1 and was increasing at a rate of 1.1% per year. Assume that this growth rate remains constant. (In fact, the growth rate has been decreasing since 2008.)

(a) Enter a formula for the world population, P, (in billions) as a function of the number of years, t, since 2017.
P(t) = ___________.