Answer:
The annual increase is
$6392.61
Explanation:
We need to calculate the total increase and then divide by the number of years
It is asking for nominal amount so we are not going to use any rate.
[tex] \frac{current \: value - previous \: value}{current \: year - previous \: year} = annual \: increase[/tex]
281400-198300= 83100 total increase
t2013 - 2000 = 13 time
83100/13=6392.61 annual increase
