An engineer in 1960 was earning 6000 a year today in 2018, Ask an Expert

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An engineer in 1960 was earning $6,000 a year. Today, in 2018, she earns $60,000 a year. However, on average, goods today cost 8.2 times what they did in 1960.

What is her real income today in terms of constant 1960 dollars?

Calculate her salary’s annual inflation rate and the cost of goods annual inflation rate.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92795699

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