Plug the numbers into the exponential growth formula:
[tex]60100× (1+ \frac{x}{100}) ^{11} [/tex]
Now work backwards to get the answer:
1)Divide 120150 by 60100 to get 1.998668885
2) Find the 11th root of ANS:
[tex] \sqrt[11]{1.998668885} =1.064976629[/tex]
3) Minus 1 from your answer to give 0.064976629
4)Multiply your answer by 100 to give you the rate of x%, which is 6.5 to 1d.p
x=6.5 (1 d.p.)
Btw, this answer also works if you plug it back into the equation
