Assume the average vehicle selling price in the United States last year was $36,420. The average price five years earlier was $31,208. What was the annual increase in the selling price over this time period?
A) 1.67 percent
B) 3.14 percent
C) 2.56 percent
D) 3.01 percent
E) 2.89 percent
Correct Answer:
Verified
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