Your right, except it would be closer to a 10.9% annual increase.
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.