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What was the annual compound rate of growth in the price

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In October 2017 a pound of apples cost $1.55, while oranges cost $1.19. Two years earlier the price of apples was only $1.34 a pound and that of oranges was $1.05 a pound.

Problem 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.)

Reference no: EM132910311

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