Get the answers you need at Westonci.ca, where our expert community is dedicated to providing you with accurate information. Discover the answers you need from a community of experts ready to help you with their knowledge and experience in various fields. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.
Sagot :
Dewey's 2001 salary in 2006 dollars is: $112,711.86
We are given the salary of $75,000 in 2001 and $95,000 in 2006. Also, we are given the consumer price index in 2001 and 2006 as 177 and 266 respectively.
Consumer Price Index is the index used by financial markets and policymakers. It holds application in measurement of variation in the prices. It also measures the inflation or deflation.
o, the salary of 2001 in 2006 will hold value = Salary in 2001 × {(CPI in 2006)÷(CPI in 2001)}
Keep the values in above mentioned formula to find the salary of 2001 in 2006
Value of salary = 75,000 × [tex]\frac{266}{177}[/tex]
Value of salary = 75,000 × 1.5028
Value of salary = $112,711.86
Hence, Dewey's 2001 salary in 2006 dollars is: $112,711.86
Learn more about Consumer Price Index-
https://brainly.com/question/8416975
#SPJ4
Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. We're glad you visited Westonci.ca. Return anytime for updated answers from our knowledgeable team.
