What is the constant rate of change if you started with an account value of $1,000 and after 3 years the account value was $1,750?

Question

The constant rate of change is ____ per year.

(1 point)
Responses

$250
$250

$500
$500

$750
$750

$245

Answer 1

To find the constant rate of change, you can use the formula:

\[ \text{Rate of Change} = \frac{\text{Change in Value}}{\text{Time Period}} \]

First, calculate the change in value:

\[ \text{Change in Value} = \text{Final Value} - \text{Initial Value} = 1750 - 1000 = 750 \]

Next, divide the change in value by the time period (3 years):

\[ \text{Rate of Change} = \frac{750}{3} = 250 \]

So, the constant rate of change is $250 per year.