The fair market rental rate for Columbus was $730 in 2013 and $551 in 2003. Find the rate of change for rent in Columbus during
1 answer:
Answer:
The rate of change is <em>17.9 dollars per year</em>.
Step-by-step explanation:
We use the rate of change formula: where y2 and x2 and the y and x points respectively of the second point, and y1 and x1 are the y and x points respectively for the frist point.
In our case, the first point's x is 2003 (earlier date) and y is 551 (price).
The second point's x is 2013 (date) and y is 730 (price).
Plugging in the numbers, we get
This means the rate of change is 17.9 dollars per year.
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