3. a town has a population of 12 600 in 1995. twelve years later, its population grew to 19 000. determine…

3. a town has a population of 12 600 in 1995. twelve years later, its population grew to 19 000. determine the average annual growth rate of this town’s population. 5t&i

3. a town has a population of 12 600 in 1995. twelve years later, its population grew to 19 000. determine the average annual growth rate of this town’s population. 5t&i

Answer

Explanation:

Step1: Identify population values and time

Initial population $P_0 = 12600$, final population $P = 19000$, time $t=12$ years.

Step2: Use growth - rate formula

The formula for average annual growth rate $r$ is $r=\frac{P - P_0}{P_0t}\times100%$. Substitute the values: $r=\frac{19000 - 12600}{12600\times12}\times100%$.

Step3: Calculate numerator

$19000−12600 = 6400$.

Step4: Calculate denominator

$12600\times12=151200$.

Step5: Calculate the fraction and percentage

$r=\frac{6400}{151200}\times100%\approx 4.23%$.

Answer:

Approximately $4.23%$