After years of overhunting, environmental scientists have reintroduced elk to Yellowstone National Park. The initial number of elk reintroduced to the park was 230 and, after 8 years, the population is estimated to be around 595. Assuming an exponential growth pattern, what is the annual growth rate (rounded to the nearest tenth of a percent) of the new elk population in Yellowstone National Park?
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 amount, and t is time.
