Question
In April 2013 a pound of apples cost $1.44, while oranges cost $1.08. Four years earlier the price of apples was only $1.23 a pound
In April 2013 a pound of apples cost $1.44, while oranges cost $1.08. Four years earlier the price of apples was only $1.23 a pound and that of oranges was $.94 a pound.
a. what was the annual compound rate of growth in the price of apples? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)
compound annual growth rate ___
b. what was the annual compound rate of growth in the price of oranges? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)
compound annual growth rate_________
c. if the same rates of growth persist in the future, what will be the price of apples in 2030? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
compound annual growth rate___
d. if the same rates of growth persist in the future, what will be the price of oranges in 2030? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
compound annual growth rate_____
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