SOLUTION: Researchers claim that a certain technology doubles in size every 5.48 years. What is the​ technology's exponential growth​ rate?

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Question 1198609: Researchers claim that a certain technology doubles in size every 5.48 years. What is the​ technology's exponential growth​ rate?
Answer by MathLover1(20850) About Me  (Show Source):
You can put this solution on YOUR website!
A+=+P+e%5E%28rt%29
If the initial population is 1 unit, then in 5.48+ years the population will be 2 units.
2+=+1%2Ae%5E%285.48r%29
Take the natural logarithm of both sides:
ln%282%29++=+ln%281%2A+e%5E%285.48r%29%29
ln%282%29++=+ln%281%29%2Bln%28e%5E%285.48r%29%29

ln%282%29+=0%2B+5.48r%2Aln%28e%29
ln%282%29+=5.48r%2A1
r+=+ln%282%29%2F5.48
r+=+ln%282%29%2F5.48
+r+=0.126487........per year, exactly
or
r+≈ 12.6487%........ per year