Question
In October 2017 a pound of apples cost $1.60, while oranges cost $1.24. Three years earlier the price of apples was only $1.39 a pound
In October 2017 a pound of apples cost $1.60, while oranges cost $1.24. Three years earlier the price of apples was only $1.39 a pound and that of oranges was $1.10 a pound.
a.What was the annual compound rate of growth in the price of apples?
b.What was the annual compound rate of growth in the price of oranges
c.If the same rates of growth persist in the future, what will be the price of apples in 2030?
d.If the same rates of growth persist in the future, what will be the price of oranges in 2030?
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College Accounting Chapters 1-27
Authors: James A. Heintz, Robert W. Parry
23rd edition
1337794759, 978-1337794756
