Table 6.2
-Refer to Table 6.2.Using the table above, what is the approximate average annual growth rate from 2012 to 2015?

Question

Table 6.2 
-Refer to Table 6.2.Using the table above, what is the approximate average annual growth rate from 2012 to 2015?

Quizplus · Accepted Answer

To calculate the approximate average annual growth rate, we need to use the formula:
[(Ending value / Beginning value) ^ (1/number of years)] - 1
Plugging in the values from the table, we get:
[(465/420)^(1/3)] - 1 = 0.0203 or approximately 2%
Therefore, the answer is C) 2%.

Table 6.2 -Refer to Table 6.2.Using the Table Above, What Is the What