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.

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Determine Total Population Growth: First, we need to determine the total population growth over the 15-year period. Population in 2005 (T) = 12500 Population in 1990 = 8400 Total population growth = T - Population in 1990 Total population growth = 12500 - 8400Calculate Total Population Growth: Now, we calculate the total population growth. Total population growth = 12500 - 8400 Total population growth = 4100Calculate Average Annual Growth Rate: Next, we need to calculate the average annual growth rate. To do this, we divide the total population growth by the number of years (15 years). Average annual growth rate = Total population growth / Number of years Average annual growth rate = 4100 / 15Perform Division for Growth Rate: Now, we perform the division to find the average annual growth rate. Average annual growth rate = 4100 / 15 Average annual growth rate ≈ 273.33Calculate Growth Rate Percentage: To express the average annual growth rate as a percentage, we need to divide the average annual growth by the initial population and then multiply by 100. Average annual growth rate (%) = (Average annual growth / Initial population) * 100 Average annual growth rate (%) = (273.33 / 8400) * 100Finally, we calculate the average annual growth rate percentage. Average annual growth rate (%) = (273.33 / 8400) * 100 Average annual growth rate (%) ≈ 3.25%

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.

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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.