Newly hired professor earn more in real the real terms

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The starting salary for a new assistant professor was $35,000 in 2000 and $65,000 in 2015. The value of CPI for 2015 was 164.3 compared to 55.6 in 2000. In which year did a newly hired professor earn more in real the real terms? Show your calculations to demonstrate how your derived at your conclusion.

Reference no: EM131095176

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