On January 4, 1965 the price of a stembolt was $9.97. On January 4, 1986 the price of a stembolt was $58.60. Find the average rate of change in the price of a stembolt from 1965 to 1986. Round to the nearest cent.

The average rate of change is $LaTeX: \displaystyle \frac{58.60-9.97}{1986-1965}= 2.32$ dollars per year.