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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Financial and Managerial Accounting
Authors: Horngren, Harrison, Oliver
3rd Edition
978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978
