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Question 16 Two years ago, selected automobiles had an average cost of $16000. The average cost of the same automobiles now is $19000. What was the annual rate of increase in the average price of these automobiles? (Reminder: Enter your answer as a decimal, not as a percentage.) Your Answer: Answer

Question 16 Two years ago, selected automobiles had an average cost of $16000. The average cost of the same automobiles now is $19000. What was the annual rate of increase in the average price of these automobiles? (Reminder: Enter your answer as a decimal, not as a percentage.) Your Answer: Answer

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Question 16 Two years ago, selected automobiles had an average cost of $16000. The average cost of the same automobiles now is $19000. What was the annual rate of increase in the average price of these automobiles? (Reminder: Enter your answer as a decimal, not as a percentage.) Your Answer: Answer
Transcribed Image Text:Question 16 Two years ago, selected automobiles had an average cost of $16000. The average cost of the same automobiles now is $19000. What was the annual rate of increase in the average price of these automobiles? (Reminder: Enter your answer as a decimal, not as a percentage.) Your Answer: Answer
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