Question

fair market value rent rate 630 in 2013 and 551 and in 2003 find the rate of change during the time

Answer 1

The goal here is to find the slope, so we have to use the slope formula.

Slope formula: Change in y's/ Change in x's

Your "Y" in this scenario would be the years and the "X" would be the cost in a certian year.

So, 2013 - 2003 / 630 - 551 = 10 / 79 = .79

$0.79 per year increase.