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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 402 Weeks Ago, 1 Day Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
In mid-2010 a pound of apples cost $1.38, while oranges cost $1.22. Ten years earlier the price of apples was only $.98 a pound and that of oranges was $.76 a pound. a. What was the annual compound rate of growth in the price of the two fruits? (Do not round intermediate calculations. Round your answers to 2 decimal places.) Annual Compound rate growth for apples % Compound rate growth for oranges % -------------------------------------------------------------------------------- b. If the same rates of growth persist in the future, what will be the price of apples in 2030? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Price of apples in 2030 $ c. What about the price of oranges? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Price of oranges in 2030 $ check my workreferencesebook & resources eBook: Inflation and the Time Value of Money Worksheet Difficulty: Intermediate Learning Objective: 05-06 Understand the difference between real and nominal cash flows and between real and nominal interest rates
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