A town has a population of 8400 in 1990. Fifteen years later, its population grew to 12500. Determine the average annual growth rate of this town's population. How do i solve this using applications of exponential functions?

Answer 1

12500=8400(R)^15

ln12500=ln8400+15lnR
solve for R

Answer 2

it doesnt work,
the answer is approximately 2.7%
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