Please help me out with this Algebra 1 question
2 answers:
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Price of book in 1938 = $ 0.10
Price of book in 2011 = $ 2,161,000
Number of years over 1938-2011 = 2011 - 1938 = 73
Annual increase in the price =
⇒ Annual increase in the price =
⇒ Annual increase in the price = (1.260302283 - 1 ) × 100
⇒ Annual increase in the price = 0.260302283 × 100
⇒ Annual increase in the price = 26.0302283 %
⇒ Annual increase in the price = 26%
Hence, the comic book price increased by 26% annually