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A town has a population of $1.025 \times 10^{5}$ and shrinks at a rate of $5 \%$ every year. Which equation represents the town's population after $6$ years?$\newline$$P=\left(1.025 \times 10^{5}\right)(1-0.05)(1-0.05)(1-0.05)$$\newline$$P=\left(1.025 \times 10^{5}\right)(0.05)^{6}$$\newline$$P=\left(1.025 \times 10^{5}\right)(0.95)^{6}$$\newline$$P=\left(1.025 \times 10^{5}\right)(1-0.5)^{6}$