Two years ago, Rob bought some shares of a stock, and today those shares have a value of $19.80 each. The price when Rob bought
1 answer:
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The Solution.
In 1966, which is the initial year(t); t = 0, and minimum wage(y), y = $1.25
Similarly.
In 2015, t = 49 years , (that is, 1966 to 2015), and y = $8.75
The rate of growth to the nearest percent is
Substituting into the formula above, we get
Hence, the correct answer is 15%