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Assume that the average vehicle in the United States currently sells for $56,561 and that 10 years earlier the average selling price was $37,428.

Assume that the average vehicle in the United States currently sells for $56,561 and that 10 years earlier

Assume that the average vehicle in the United States currently sells for $56,561 and that 10 years earlier the average selling price was $37,428. What is the annual average compounded increase in the selling price over this time period? 3.89 percent 4.22 percent 4.56 percent 5.01 percent 5.40 percent

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