Salary to have the same level of purchasing power

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Suppose that the price index for the years 1980 and 2010 is equal to 60.0 and 180.0, respectively. Also suppose that Maya earned an annual salary of $20,000 in 1980. Given the above, how much would Maya have to earn in 2010 in order for her salary to have the same level of “purchasing power” as her $20,000 salary had in 1980

Reference no: EM13740829

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