the library at a certain University reported the journal prices had increased by 150% over a period of 10 years The report concluded that this representing a price increase of 15% each year if journal prices had indeed increase by 15% each year what percentage increase would that give the over 10 years Ron your answer as a percentage to the nearest whole number
Question
Answer:
1.15¹⁰=4.0456, the growth rate, so the increase is 3.0456 or 305%.
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