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.
$0.15 per year
• $0.25 per year
• 50.55 per year
• $1.00 per year
To find the rate of change, we need to calculate the difference in price over the four years and divide by the number of years.
Change in price = $2.50 - $1.50 = $1.00
Number of years = 4
Rate of change = Change in price / Number of years
Rate of change = $1.00 / 4
Rate of change = $0.25 per year
Therefore, the rate of change of the price of bread is $0.25 per year.