Question
Kyle earned $53,000 in 2005. How much would he earn in 2015 if his earnings grew at the rate of inflation during this period? Use
Kyle earned $53,000 in 2005. How much would he earn in 2015 if his earnings grew at the rate of inflation during this period? Use the CPI provided in the following table.
| Year | Base Year | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| CPI | 100 | 102.8 | 104.7 | 107 | 109.1 | 111.5 | 114.1 | 114.4 | 116.5 | 119.9 | 121.7 | 122.8 |
What were the earnings in 2015?
Round to the nearest cent
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Mathematical Applications for the Management Life and Social Sciences
Authors: Ronald J. Harshbarger, James J. Reynolds
11th edition
9781337032247, 9781305465183, 1305108043, 1337032247, 1305465180, 978-1305108042
