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
$1.00 per year
To find the rate of change, we subtract the initial price from the final price and divide by the number of years elapsed.
Rate of change = ($2.50 - $1.50) / 4 years
Rate of change = $1.00 / 4 years
Rate of change = $0.25 per year
Therefore, the correct answer is $0.25 per year.