Multiple Choice
The cost of a first-class postage in 1970 was $0.06 and in year 2016 was $0.47. Determine the average annual rate of increase in the price of postage stamps during the years 1970 to 2016.
A) 3.97%
B) 4.58%
C) 6.63%
D) 4.84%
Correct Answer:
Verified
Correct Answer:
Verified
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