The CPI increases from 132 in 2017 to 167 in 2018. If you were paid $43,549...
The CPI increases from 132 in 2017 to 167 in 2018. If you were paid $43,549 in 2017, then how much would you (minimally) like to be paid in 2018?
Homework Answers
Ans: $55094
Explanation:
Paid in 2018 = $43,549 * ( 2018 CPI / 2017 CPI )
= $43,549 * ( 167 / 132 )
= $43,549 * 1.2651
= $55093.84 or $55094
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