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What was the annual compound rate of growth

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Reference no: EM133022219

Question - In October 2017 a pound of apples cost $1.45, while oranges cost $1.09. Three years earlier the price of apples was only $1.24 a pound and that of oranges was $0.95 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?

Reference no: EM133022219

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