In april 2016 a pound of apples cost 159 while oranges cost, Ask an Expert

Finance

In April 2016 a pound of apples cost $1.59, while oranges cost $1.23. Four years earlier the price of apples was only $1.38 a pound and that of oranges was $1.09 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. What about the price of organges?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92802902

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