Nancy receiveda $38,500 annual salary in 2008 (base year). Answer the following questions using the CPI table below: Year 2008 2010 2012 2014 2016 CPI 100 104.8 111.5 116.5 124.8 a. What is Nancy's salary in 2014 if the company had kept pace with inflation? Round to the nearest cent b. If Nancy received $48,000 in 2014, what is the percent increase in her salary from what she would have received if the company kept pace with inflation? Round up to two decimal places 15°C

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