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In December 2020, a pound of lemons cost $1.59, while a pound of bananas cost $1.23. Four years earlier, the price of lemons was $1.38

In December 2020, a pound of lemons cost $1.59, while a pound of bananas cost $1.23. Four years earlier, the price of lemons was $1.38 a pound and that of bananas was $1.09.

  1. What was the annual compound rate of growth in the price of lemons?

    Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 4 decimal places. Negative answers should be indicated with a minus sign.

  2. What was the annual compound rate of growth in the price of bananas?

    Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 4 decimal places.

  3. If the same rates of growth persist in the future, what will be the price of lemons in 2030?

    Note: Do not round intermediate calculations. Round your answer to 2 decimal places.

  4. What about the price of bananas?

    Note: Do not round intermediate calculations. Round your answer to 2 decimal places.

a. compound annual growth rate of lemons %

b. compound annual growth rate off bananas%

c. price of lemons

d. price of bananas

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