ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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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$) 1 2 3 4 $34,000 36,200 38,800 41,500 CPI 2.4% 1.9% 3.3% 3.4%
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Transcribed Image Text:8-9. A recent college graduate has received the annual salaries shown in the following table over the past four years. During this time, the CPI has performed as indicated. Determine the annual salaries in year-zero dollars (b=0), using the CPI as the indicator of general price inflation. (8.2) End of Year Salary (A$) 1 2 3 4 $34,000 36,200 38,800 41,500 CPI 2.4% 1.9% 3.3% 3.4%
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Step 2: Computation of salary in base year with CPI year 1; CPI year 2
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Step 3: Computation of salary in base year with CPI year 3; CPI year 4
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