Approximate annual compound growth rate in price of pears

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Suppose the price of pears was $1.16 in mid-2010 and $1.37 in mid-2013. What would be the approximate annual compound growth rate in the price of pears?

a. 5.70%

b. 2.83%

c. 1.18%

d. 1.00%

Reference no: EM13890475

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