Annual increase in selling price


Problem:

In January 2007, the average price of an asset was $26,958. 6 years earlier, the average price was $20,708. What was the annual increase in selling price? Please provide step by step solution.

A. -4.30%

B. 5.39%

C. 4.04%

D. 4.94%

E. 4.49%

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Finance Basics: Annual increase in selling price
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