The function f(t)=12(1+0.03)t can be used to determine the population, in thousands, of a town t years since 1955. According to the function, what was the population of the town in 1955 and what was the percent increase in population from year to year? Enter a number in each box to correctly complete the sentence. The population of the town in 1955 was people, and the percent increase in population from year to year was %.