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a) Calculate the CPI percentage change from 2016 to 2020 ? [2 mark] b) Approximately what income would they need in 2020 to sustain the

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a) Calculate the CPI percentage change from 2016 to 2020 ? [2 mark] b) Approximately what income would they need in 2020 to sustain the same standard of living? Interpret the results [ 3mks ] c) If their living expenses increased from $78,925 in 2016 to $99,989 in 2020 , by what percent did their expenditures increase in real terms? Interpret the results [4 marks]

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