Suppose that someone has a salary of $201.150 in 2019, What would the equivalent salary be in 1979? (Simplify your anand round to the nearest thousand.)is needed to maintain the same standard of living O)(6/10)Year1971197219731974197519761977197819791980CPI40.541.844.449.353.856.9Average Annual Consumer Price Index (1982-1984 = 100)CH177.1179.960.665.272.682.4Year1981198219831984198519861987198819891990CPI90.996.599.6103.9107,6109.6113.6118.3124.0130.7Year1991199219931994199519961997199819992000CPI136.2140.3144.5148.2152.4156.9160.5163.0166.6172.2Source Consumer Price Index, 1913-, Federal Reserve Bank of Minneapolis.Year2001200220032004200520062007200820092010184.0188.9195.3201.6207.3215.3214.5218.1Year2011201220132014201520162017201820192020CPI224.9229.6233.0236.7237.0240.0245.1251.1255.7258.8

The time value states that what cash purchases today cannot be purchased in the future using the…

Answered: Suppose that someone has a salary of…

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter27: Time Value Of Money (compound)

Section: Chapter Questions

Problem 8E

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Suppose that someone has a salary of $201.150 in 2019. What would the equivalent salary be in 1979? (Simplify your arm and round to the nearest thousand.) is needed to maintain the same standard of living