Let $ 500 be paid at the end of each quarter for 5 years. If the interest is earned rate of 13%, compounded quarterly, find the
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Answer:
The average rate of change is -0.034 which means that the decrease is -0.034 in the cost of per print per year
Step-by-step explanation:
Given that
Price of print in 2002 = p1 =$0.50
Price of print in 2013 = p2 =$0.13
y1 = 2002
y2 = 2013
The rate of change is given by the formula:
Here decrease is the change in price and run is the difference in years.
Mathematically, it can be written as:
Putting the values
Hence,
The average rate of change is -0.034 which means that the decrease is -0.034 in the cost of per print per year