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Math Help - Calculating average annual increases

  1. #1
    JoeFerry
    Guest

    Calculating average annual increases

    I'm wrestling with a confusing math problem. I need to figure out two numbers: the total percentage increase and the average annual increase.
    Here are the starting and ending numbers:
    1982 - $154,890
    2006 - $1,847,000

    I came up with a 1,200 percent increase (roughly) and a 10.3 average annual increase. But for some reason they don't seem right to me.

    I can supply each individual year, if necessary.

    Any help is much appreciated.
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  2. #2
    MHF Contributor Quick's Avatar
    Joined
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    Your right, except it would be closer to a 10.9% annual increase.
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