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Home > A2C > Chapter 13 > Lesson 13.1.4 > Problem 13-74

13-74.

If the cost of a CD now averages $15.95 and in 4 years will cost $21.95, what is the annual multiplier and the annual percent increase? Homework Help ✎

15.95r4 = 21.95

r = 1.083

What percent increase is this?