i am stuck on the following problem. here is a pic of the problem
please include all steps in your answer
thanks in advance
To calculate the rate of change, you must find the two differences in measurements.
The year changes from 2005 to 2009, so we do 2009-2005 to calculate how much it has changed by (=4 years)
We do the same thing with the price: 13,375-10,880 = 2,495
Then to calculate the rate, we do change divided by time
the change is $2495 and the time is 4 years
2495/4 = 623.75
To calculate the units we do unit of change over unit of time, which is $/year
So the rate of change is $623.75 per year.
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