The price of bread went from $1.50 per loaf when Bill started tracking to $2.50 per loaf in four years later. Find the rate of change of the price of bread. Responses $0.15 per year $0.15 per year $0.25 per year $0.25 per year $0.55 per year $0.55 per year $1.00 per year
To find the rate of change of the price of bread, we can use the formula:
Rate of change = (Final price - Initial price) / Number of years
Rate of change = ($2.50 - $1.50) / 4
Rate of change = $1 / 4
Rate of change = $0.25 per year
Therefore, the rate of change of the price of bread is $0.25 per year. This means that the price of bread increased by $0.25 every year.