Question
In April 2016 a pound of apples cost $ 1.45, while oranges cost 1.09. Three years earlier the price of apples was only $ 1.24
In April 2016 a pound of apples cost $ 1.45, while oranges cost 1.09. Three years earlier the price of apples was only $ 1.24 a pound and that of oranges was $.95 a pound.
a. What was the annual compound of growth in the price of apples? Round 2 decimals
Compound annual growth rate:
b. What was the annual compound rate of growth in the price of oranges? Round 2 decimals
Compound annual growth rate:
c. If the same rates of growth persist in the future, what will be the price of apples in 2030? Round 2 decimal places
Price:
d.What about the price of oranges? Round 2 decimal places
Price:
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
1259261018, 1259261015, 978-1259024979
