Problemin 2006 selected automobiles had an average cost of, Ask an Expert

Finance

Problem:

In 2006, selected automobiles had an average cost of $18,000. The average cost of those same automobiles is now $33,300.

Question: What was the rate of increase for these automobiles between the two time periods? Please provide step by step solution and explain in detail.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91145739

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