We appreciate your visit to The table below provides the nominal annual salary of U S senators and the CPI data Base Year 2005 Year Nominal Annual Salary CPI 1990. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
Final answer:
To calculate the real annual salary of the U.S. senators for 2019 in 2005 constant prices, use the formula: Real salary = (Nominal salary) x (CPI in base year / CPI in current year).
Explanation:
To calculate the real annual salary of the U.S. senators for the year 2019 in 2005 constant prices, we need to adjust for inflation using the Consumer Price Index (CPI). We can use the formula: Real salary = (Nominal salary) x (CPI in base year / CPI in current year).
For 2019, the CPI is 128.1 and the nominal annual salary is $174,000. Plugging these values into the formula, we get: Real salary = $174,000 x (100.0 / 128.1) = $135,881.02 (rounded to the nearest cent).
Therefore, the real annual salary of U.S. senators in 2019, expressed in 2005 constant prices, is approximately $135,881.02.
Learn more about Calculating Real Annual Salary of U.S. Senators here:
https://brainly.com/question/32841256
#SPJ11
Thanks for taking the time to read The table below provides the nominal annual salary of U S senators and the CPI data Base Year 2005 Year Nominal Annual Salary CPI 1990. We hope the insights shared have been valuable and enhanced your understanding of the topic. Don�t hesitate to browse our website for more informative and engaging content!
- Why do Businesses Exist Why does Starbucks Exist What Service does Starbucks Provide Really what is their product.
- The pattern of numbers below is an arithmetic sequence tex 14 24 34 44 54 ldots tex Which statement describes the recursive function used to..
- Morgan felt the need to streamline Edison Electric What changes did Morgan make.
Rewritten by : Barada
