Kirby Puckett became the first $3,000,000 man in major league baseball in 1990.By 2008,A-Rod was bringing in $27,500,000 per year.Did the annual change in the highest annual baseball salary rise more rapidly over this time period than from 1930 to 1990? Babe Ruth had the highest salary and made $80,000 in 1930.
A)Yes,because the annual rate of change was 29.17% in the more recent period and only 36.67% in the earlier period.
B)No,because the annual rate of change was 29.17% in the more recent period and 36.67% in the earlier period.
C)Yes,because the annual rate of change was 13.10% in the more recent period and only 6.23% in the earlier period.
D)There is not enough information provided to answer this question.

Question

Quizplus · Accepted Answer

To find the annual rate of change, we divide the difference in salaries by the number of years between them and express it as a percentage. 
For the period between 1930 and 1990: 
Annual rate of change = ((3,000,000-80,000)/(1990-1930)) / 100% = 36.67%
For the period between 1990 and 2008: 
Annual rate of change = ((27,500,000-3,000,000)/(2008-1990)) / 100% = 13.10%
Therefore, the annual change in the highest annual baseball salary did not rise more rapidly over the time period from 1930 to 1990 than from 1990 to 2008.

Kirby Puckett Became the First $3,000,000 Man in Major League