For Exercises 22-24, refer to the following. The formula for the average growth rate over a period of time is even simpler than the one for the exponential reserve of a resource. If usage at the beginning is and at the end of an interval of years it is , then the average annual rate of growth is
23. The U.S. population was 3.9 million in 1790 and 63 million in 1890. What was the average annual rate of growth, to two decimal places?
23.
2.78%.