in mid 2010 a pound of apples cost 1 38 while oranges cost 1 22 ten years earli 382336

In mid 2010 a pound of apples cost $1.38, while oranges cost $1.22. Ten years earlier the price of apples was only $.98 a pound and that of oranges was $.76 a pound. a. What was the annual compound rate of growth in the price of the two fruits? (Do not round intermediate calculations. Round your answers to 2 decimal places.) Annual Compound rate growth for apples % Compound rate growth for oranges % b. If the same rates of growth persist in the future, what will be the price of apples in 2030? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Price of apples in 2030 $ c. What about the price of oranges? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Price of oranges in 2030 $ check my workreferencesebook & resources eBook: Inflation and the Time Value of Money Worksheet Difficulty: Intermediate Learning Objective: 05 06 Understand the difference between real and nominal cash flows and between real and nominal interest rates