Question

Along with incomes, people's charitable contributions have steadily increased over the past few years. The table below

shows the average deduction for charitable contributions reported on individual income tax returns for the period 1993 to
1998. Find the average annual increase between 1995 and 1997.
Year Charitable Contributions
1993
$1990
1994
$2430
1995 $2480
1996 $2830
1997 $3010
1998 $3170
O $345 per year
O $305 per year
o $280 per year
O $560 per year

Answer 1

To find the average annual increase

m = amount in 1997 - amount in 1995

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1997 - 1995

= 3010-2480

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1997-1995

= 530

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2

= $265 per year