Question
Please explain in excel Babe Ruth was the highest paid baseball player in 1930 with a salary of $80,000, which was higher than President Herbert
Please explain in excel
Babe Ruth was the highest paid baseball player in 1930 with a salary of $80,000, which was higher than President Herbert Hoover. When asked about this, Ruth responded I know, but I had a better year than Hoover. In 2021, Mike Trout had the highest salary in baseball at $37.7 million. Also in 1930, the inflation index stood at 16.7. In 2021, the inflation index was 312.84. What was the real growth rate in the highest baseball salary? What salary would Babe Ruth have been paid in 1930 assuming he received the same real salary as Mike Trout?
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