On January 4, 1961 the price of a stembolt was $21.76. On January 4, 2000 the price of a stembolt was $64.69. Find the average rate of change in the price of a stembolt from 1961 to 2000. Round to the nearest cent.

The average rate of change is $LaTeX: \displaystyle \frac{64.69-21.76}{2000-1961}= 1.10$ dollars per year.