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Business, 11.03.2020 16:17 DojaCat

Suppose you’ll have an annual nominal income of $40,000 for each of the next three years and the inflation rate is 5% per year. Find the real value of your $40,000 salary for each of the three years (Show Calculations) (1 pts per year = 3 pts) Suppose you have a COLA (Cost of Living Adjustment) of 5% per year in your contract, which raises your $40,000 salary 5% for each of the next three years. Given the 5% inflation rate for each of those 3 years, what is the real value of your salary for each year? (Show Calculations; 1 pt p

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