Evaluating a Real-World Exponential Model

At the beginning of this section, we learned that the population of India was about $1.25$ billion in the year 2013, with an annual growth rate of about $1.2 \% .$ This situation is represented by the growth function $P \left(t\right) = 1.25 \left(1.012\right)^{t} ,$ where $t$ is the number of years since $2013.$ To the nearest thousandth, what will the population of India be in $\text{2031}?$