Complete Question
Table of Annual CPI values
2003-184.00
2004-188.90
2005-195.3
2006-201.6
2007-207.342
2008-215.303
2009-214.537
2010-218.056
2011-224.939
2012-229.594
2013-232.957
2014-236.736
QRINC offered new employees a starting salary of $34,862 in 2013. What would a comparable starting salary have been in 2003?
Answer:
[tex]C=27535.5881128[/tex]
Step-by-step explanation:
From the question we are told that
CPI for 2003(index)=2003-184.00
CPI for 2013(index)=2013-232.957
Starting salary in 2013 at $34,862
Generally comparable starting salary C is given as
[tex]C=\frac{starting salary}{CPI for 2013(index} *CPI for 2003(index)[/tex]
[tex]C=\frac{34,862}{232.957} *184[/tex]
Therefore C the comparable starting salary is givrn to be
[tex]C=27535.5881128[/tex]
[tex]C=27536 appro[/tex]
