Math  I really need help, please.
posted by Lacey .
A town has a population of 8400 i 1990. Fifteen years later, it's population grew to 12500. Determine the average annual growth rate of this town's population.
I really don't understand this problem. I've been going at it for hours and all I've come to is that the equation should be P=8400(1+x)^15 x being the annual percentage, so then, I substitute 12500 for P. but I don't know where to go from there. Please, I really need help on this.

12500=8400(1+x)^15
divide both sides by 8400
1.488=(1+x)^15
take the fifteenth root of each side
1.488^(1/15)=1+x
1.027=1+x 
oh, thank you so much!

(1.0271)x100= 2.7%
Respond to this Question
Similar Questions

math
Hi, Can you please help me. Thankyou. The present population of a town is 42000. a) Determine the population 4 years ago if the growth rate has been a constant 4%/year. b) Determine the number of complete years that have passed since … 
Math 11u
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. 
Math 11u
A town has a population of 8400 in 1990. Fifteen years later, it's population grew to 12,500. Determine the average annual growth rate of this town's population. Round to the nearest tenth of a percent. (the answer in the book is approx.2.7) … 
algebra
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? 
MATH
4. The population of a small town is modelled by the function p(t)= 20(4t+3)/2t+5 , where P(t) is the population, in thousands, and t is time, in years, since the start of 1990. a) Is the population currently increasing or decreasing? 
MATH
4. The population of a small town is modelled by the function p(t)= 20(4t+3)/2t+5 , where P(t) is the population, in thousands, and t is time, in years, since the start of 1990. a) Is the population currently increasing or decreasing? 
math
The population of a small town is modelled by the function p(t)= 20(4t+3)/2t+5 , where P(t) is the population, in thousands, and t is time, in years, since the start of 1990. a) Is the population currently increasing or decreasing? 
Advance Functions
The population of a small town is modeled by the function p(t)=20(4t+3)/2t+5, where P(t) is the population, in thousands, and t is time, in years, since the start of 1990. The town will need its own transit system if the population … 
c++
Write a C++ program that reads the population of town A and its growth rate as well as the population of town B and its growth rate. It outputs after how many years the population of town A will be greater than that of town B and the … 
math
In 2007, the population of a town was approximately 35,250. In 2012, the population of the town had decreased to 28,200. Based on a linear model, what will be the approximate population of the town in 2014?