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Tim is paid at $85,000 per year in 2019. He used to be paid at $75,000 in 2016. Consider the CPI of 117.5 in 2016

Tim is paid at $85,000 per year in 2019. He used to be paid at $75,000 in 2016. Consider the CPI of 117.5 in 2016 and 128.5 in 2019.

a) Find the nominal present increase in his salary

b) Find the actual percent increase in his salary

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