The initial number of horses is given by n=0.
Replacing on the equation:
[tex]\begin{gathered} w(0)=15\ast b^0 \\ w(0)=15\ast1 \\ w(0)=15 \end{gathered}[/tex]The initial number of horses is 15.
Now, if b= 1.35
We need to convert it to percentage:
b = 1.35 = 135%
Therefore, the growth is:
135%-100% = 35%
Then,
If b = 1.35, the annual percentage growth rate of the number of horses would be 35%.