Question 1179519
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The meaning of "average annual percentage increase" is not clear....<br>
With one interpretation, the average is simply<br>
{{{(0.12+0.16+0.19+0.25)/4=0.72/4=0.18}}} = 18%.<br>
More likely, the intended meaning is the following:<br>
{{{(1.12)(1.16)(1.19)(1.25) = 1.93256}}}<br>
That's an increase of 93.256% over the 4 years; the average increase is then<br>
{{{93.256/4 = 23.314}}} or 23.314% per year.<br>
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I agree that the third interpretation from tutor @ikleyn is also possible -- and also that it is the interpretation that is most likely to be the intended interpretation.<br>