1 answer:
The value of his investment at the third year is
F (3)=300×(1.02)^(3)=318.36
The value of his investment at the fifth year is
F (5)=300×(1.02)^(5)=331.22
The average rate of change of the value is
(331.22−318.36)÷2 years=6.43 per year
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