A recent college graduate has received the annual salaries shown in the following table over the past

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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.

Salary (A$) End of Year CPI $34,000 36,200 38,800 2.4% 1.9% 3.3% 3.4% 3 41,500

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Engineering Economy

ISBN: 978-0133439274

16th edition

Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

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