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The average price of gasoline in 2021 was $1.26 per liter. In 2001, the average price was $0.36. What was the average annual rate of increase in the price of gasoline over this 20-year period?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

4. The average price of gasoline in 2021 was $1.26 per liter. In
2001, the average price was $0.36. What was the average annual
rate of increase in the price of gasoline over this 20-year
period?

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