On January 4, 1970 the price of a stembolt was $41.93. On January 4, 1996 the price of a stembolt was $62.25. Find the average rate of change in the price of a stembolt from 1970 to 1996. Round to the nearest cent.

The average rate of change is $LaTeX: \displaystyle \frac{62.25-41.93}{1996-1970}= 0.78$ dollars per year.