finance

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In the mid 1990s selected automobiles had an average cost of $12000.The average cost of those same automobiles is now $20000. What was the rate of increase for these automobiles between the two time periods?

  • finance -

    20,000 - 12,000 = 8,000

    8,000 / 12,000 = = 0.666667 = 67%

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