Answer
(a) $232.87$ millions
(b) $181.36$ millions
Work Step by Step
(a) Use exponential model, we have $n(t)=n_0e^{rt}$, set $n_0=110$ million for 2011,
and $r=0.03, t=2036-2011=25$, we have $n(25)=110e^{0.03\times25}=232.87$ millions
(b) We use $r=0.02$ for this case, so $n(25)=110e^{0.02\times25}=181.36$ millions
