8-9. A recent college graduate has received the annual salaries shown in the following table over the past four years. During this time, the CPI has performed as indicated. Determine the annual salaries in year-zero dollars (b=0), using the CPI as the indicator of general price inflation. (8.2) End of Year Salary (A$) CPI 1 $34,000 2.4% 2 36,200 1.9% 3 38,800 3.3% 41,500 3.4%

8-9. A recent college graduate has received the annual salaries shown in the following table over the past four years. During this time, the CPI has performed as indicated. Determine the annual salaries in year-zero dollars (b=0), using the CPI as the indicator of general price inflation. (8.2) End of Year Salary (A$) CPI 1 $34,000 2.4% 2 36,200 1.9% 3 38,800 3.3% 41,500 3.4%

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Don't use pen or paper
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