On January 4, 1989 the price of a stembolt was $16.58. On January 4, 2020 the price of a stembolt was $72.91. Find the average rate of change in the price of a stembolt from 1989 to 2020. Round to the nearest cent.

The average rate of change is $LaTeX: \displaystyle \frac{72.91-16.58}{2020-1989}= 1.82$ dollars per year.