The scenario describes a population that doubles each year. This can be represented by an exponential growth equation.

The equation is:

$y = 500 \cdot 2^x$

Explanation:

1. Initial population: 500 fish (this is the starting value).
2. Growth factor: 2 (the population doubles each year).
3. Variable: $x$ represents the number of years, and $y$ represents the population of fish after $x$ years.

Let me know if you want additional examples or explanations!

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Related Questions:

1. What will the population be after 5 years?
2. How can we modify the equation if the population triples instead of doubles?
3. What is the population growth rate in percentage terms?
4. How does the population change if the initial population is 1,000 instead of 500?
5. Can we determine how many years it takes for the population to reach 8,000?

Tip:

Exponential growth equations are commonly used in real-life scenarios such as populations, investments, and radioactive decay. Always identify the initial value and growth rate.