In December 2020, a pound of lemons cost $1.896, while a pound of bananas cost $0.572. Three years earlier, the price of lemons was $1.989 a pound and that of bananas was $0.558. a. What was the annual compound rate of growth in the price of lemons? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 4 decimal places. Negative answers should be indicated with a minus sign. b. What was the annual compound rate of growth in the price of bananas? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 4 decimal places. c. If the same rates of growth persist in the future, what will be the price of lemons in 2030? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. d. What about the price of bananas? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. a. Compound annual growth rate of lemons b. Compound annual growth rate of bananas c. Price of lemons d. Price of bananas % %

In December 2020, a pound of lemons cost $1.896, while a pound of bananas cost $0.572. Three years earlier, the price of lemons was $1.989 a pound and that of bananas was $0.558. a. What was the annual compound rate of growth in the price of lemons? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 4 decimal places. Negative answers should be indicated with a minus sign. b. What was the annual compound rate of growth in the price of bananas? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 4 decimal places. c. If the same rates of growth persist in the future, what will be the price of lemons in 2030? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. d. What about the price of bananas? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. a. Compound annual growth rate of lemons b. Compound annual growth rate of bananas c. Price of lemons d. Price of bananas % %

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

Problem 1PS

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