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AlgebraQ&A LibraryA country's populations in 2001and 2011 are given below. Use this information and the exponential model A=P(1+r)n find the growth rate for the country over this period.population(2001)= 74 millionpopulation(2011)= 101 million The country's growth rate was approximately ___%?(Round to two decimal places as needed)Question

Asked Feb 10, 2020

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A country's populations in 2001and 2011 are given below. Use this information and the exponential model A=P(1+r)^{n }find the growth rate for the country over this period.

population(2001)= 74 million

population(2011)= 101 million

The country's growth rate was approximately ___%?

(Round to two decimal places as needed)

Step 1

Exponential growth formula is

Step 2

Let n represents the number of years since 2001 , when n=0 the the value of A is 72 million

Step 3

Use the value of A_0=74 and find the value of ‘r’. In 2011 the population is 101 million

The value of n=10 in 2011

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