Question

In 2008, John purchased a land for $54,000. In 2010, the land was worth $72,000.

What is the rate of change per year?

Answer 1

To find the rate of change per year, we can start by noting what we already know:

• There is a 2 year difference between 2008 and 2010
• From 2008 to 2010, the land’s value increased by $18,000

Given this information, we can find the rate of change by dividing the change by the number of years:

$18,000 / 2 = $9,000

Therefore, the rate of change per year is $9,000.