An engineer's salary was $50,000 in 2006. The same engineer's salary in 2011is $80,000. If the company's salary policy dictates that a yearly raise in salariesreflect the cost of living increase due to inflation, what is the average inflationrate for the period 2002-2011?(a) 7.45%(b) 8.94%(c) 9.80%(d) 10.95%

ENGR.ECONOMIC ANALYSIS
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An engineer's salary was $50,000 in 2006. The same engineer's salary in 2011
is $80,000. If the company's salary policy dictates that a yearly raise in salaries
reflect the cost of living increase due to inflation, what is the average inflation
rate for the period 2002-2011?
(a) 7.45%
(b) 8.94%
(c) 9.80%
(d) 10.95%

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