Originally Posted by Student0902
Need assistance with calculating this in Excel:
in 2004 a pound of apples cost .99 cents while oranges cost $1.14 (assuming in 2004). 10 years earlier the price was .72 cents/lb. and oranges were .55 cents/pound.
What was the annual compound rate of growth in the price of both fruits?
If the same rates of growth persist in the future what will the price of apples be in 2024? Price of Oranges?
Please provide a formula I can use in Excel, I will come up with an answer to have you check if this is okay? Thank you.
