Answer:
7.4%
Step-by-step explanation:
Exponential growth/decay is modeled as:
A = P(1+r)^t
where A is the final amount, P is the initial amount, r is the rate, and t is time.
If t = 0 represents 2015, and t = 2 represents 2017, then:
26000 = P(1+r)^0
30000 = P(1+r)^2
(1+r)^0 = 1, so P = 26000. Substituting:
30000 = 26000(1+r)^2
1.154 = (1+r)^2
1.074 = 1+r
r = 0.074
The rate of increase is 7.4%.
