A city's population has had a continuous growth rate of 11% per year over the past few years. In 2010, the population was 110,000 people.
The model for this population can be written as
Pt=110000e0.11t
where t is the number of years since 2010.
Using this model, what is the estimated population in the year 2017?
Using the exponential property e.11t=e.11t, determine the actual annual growth rate for the city, rounded to the nearest 0.01%