Bryan purchased a corvette in 1968 for $4,600. in 2018, the corvette now has an appraised valued of $57,500. given that the annual percentage rate has been constant, what is the annual rate of growth?

Annual rate of growth is 5.18%.

Step-by-step explanation:

Since we have given that

In 1968, Bryan purchased a Corvette = $4600

In 2018, Corvette now has an appraised = $57500

According to question, we need to find the annual growth rate:

As we know the formula for "Compound interest":

Hence, Annual rate of growth is 5.18%.

explanation:

step-by-step explanation: