On January 4, 1964 the price of a stembolt was $83.46. On January 4, 2007 the price of a stembolt was $96.82. Find the average rate of change in the price of a stembolt from 1964 to 2007. Round to the nearest cent.

The average rate of change is $LaTeX: \displaystyle \frac{96.82-83.46}{2007-1964}= 0.31$ dollars per year.