After a devastating winter, when thousands of fish died, an environmental scientist has replenished the trout stock in a fishing pond. He started with 8,000 baby trout and has finished a count to find that, in 5 years, the population is estimated to be 24,000. Assuming an exponential growth pattern, what is the annual growth rate (rounded to the nearest tenth of a percent) of the new trout population?
Hint: A(t) = A0(1+r)^t, where A(t) is the final amount, A0 is the initial amount, r is the growth rate expressed as a decimal, and t is time.
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you just need to solve for r in that equation
in five years we have \[A(5)=8000(1+r)^5\]