A town has a population of 8400 in 1990. Fifteen years later, it's population grew to 125,000. Determine the average annual growth rate of this town's population. Round to the nearest tenth of a percent.

Answer 1

125,000 - 8,400 = 116,600

116,600 / 15 = 7,773.33333

7,773.33 / 8,400 = 0.925396429 = 92.5% annual growth