An engineer in 1950 was earning $6,000 a year. Today she earns $60,000 a year. However, on

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An engineer in 1950 was earning $6,000 a year. Today she earns $60,000 a year. However, on average, goods today cost 8.8 times what they did in 1950. What is her real income today in terms of constant 1950 dollars?
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Fundamentals of Corporate Finance

ISBN: 978-0077861629

8th edition

Authors: Richard Brealey, Stewart Myers, Alan Marcus

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