Question

6)

The value of Tony's investment was $1140 on January 1st. On this date
three years later, his investment was worth $1824. The average rate of
change for this investment was $19 per
(1) day
(2) month
(3) quarter
(4) year

Answer 1

Explanation:

Average rate of change = (Ending value - Beginning value) / Time elapsed

Using the formula for the average rate of change, we get:

(1824 - 1140) / 1095 = $0.55 per day

(1824 - 1140) / 36 = $19 per month

(1824 - 1140) / 12 = $54 per quarter

(1824 - 1140) / 3 = $228 per year

Therefore, the average rate of change for Tony's investment was $19 per month.