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Determining the price of apples and oranges in 2030

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Reference no: EM132796000

In October 2020 a pound of apples cost $1.32, while oranges cost $1.59. Three years earlier the price of apples was only $1.36 a pound and that of oranges was $1.51 a pound.

a. What was the annual compound rate of growth in the price of apples and oranges?

b. If the same rates of growth persist in the future, what will be the price of apples and oranges in 2030?

Reference no: EM132796000

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