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pound

/in /by

Question

In April 2013 a pound of apples cost $1.53, while oranges cost $1.17. Four

years earlier the price of apples was only $1.32 a pound and that of oranges was $1.03 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.)

  Compound annual growth rate % per year   

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.If the same rates of growth persist in the future, what will be the price of oranges in 2030? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

 
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