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TABLE 5.8 The consumer price index (CPI) shows how inflation has increased the cost of...

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Accounting

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TABLE 5.8 The consumer price index (CPI) shows how inflation has increased the cost of a typical family s purcnases. \begin{tabular}{|c|c|c|} \hline & CPI & Percent Change since 1950 \\ \hline 1950 & 25.0 & \\ \hline 1960 & 29.8 & +19.28 \\ \hline 1970 & 39.8 & +59.2 \\ \hline 1980 & 86.3 & +245.2 \\ \hline 1990 & 133.8 & +435.2 \\ \hline 2000 & 174.0 & +596.0 \\ \hline 2010 & 219.2 & +776.8 \\ \hline 2020 & 262.0 & +948.1 \\ \hline \end{tabular} An engineer in 1950 was earning $6,800 a year. In 2020 , she earned $88,000 a year. However, on average, prices, in 2020 were higher than in 1950. What was her real income in 2020 in terms of constant 1950 dollars? Use the data in:Table 5,8 : Note: Round your answer to 2 decimal places. Answer is complete but not entirely correct

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