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Answer to Question #58933 in Macroeconomics for jessie

Question #58933
After graduating from college in 2010, Art Major\'s starting salary is $50757.00. Suppose Art Major has a cost of living adjustment (COLA) clause, i.e. an escalator clause in his labor contract so that he will be able to maintain this same level of purchasing power in real terms in 2011 and 2012. Using the information in the table below, how much will Art Major be earning in 2011 and 2012 if his salary keeps up with inflation? Round your answers to the nearest dollar.
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Comments

Assignment Expert
19.10.18, 18:00

Dear Eleven,

please submit the new question.

eleven
19.10.18, 01:22

Hello, I get how you solved the first answer but I got confused to how you got the second answer. Where did you get $51507.71 from?

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