Question

It is costly in both time and money to go to college. Does it pay off? According

to the Bureau of the Census, the answer is yes. The average annual income (in thousands of dollars) of a household headed by a person with the stated education level is as follows: 24.8 if ninth grade is the highest level achieved, 41.2 for high school graduates, 59.3 for those holding associate degrees, 82.6 for those with bachelor’s degrees, 100.3 for those with master’s degrees, and 121.7 for those with doctoral degrees. Make a bar graph showing household income for each education level. 

 

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Question

In April 2016 a pound of apples cost $1.50, while oranges cost $1.14. Four years earlier the price of apples was

only $1.29 a pound and that of oranges was $1.00 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.)

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.)

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.)

d. What about the price of oranges? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

 

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