What was the annual compound rate of growth

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In April 2016 a pound of apples cost $1.52, while oranges cost $1.16. Two years earlier the price of apples was only $1.31 a pound and that of oranges was $1.02 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.)

Reference no: EM131829115

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