Perry made $34,885 this year. If the inflation rate was 6.5 percent, how much was his salary actually worth? (purchasing power)

Solution:

Given that,

Perry made $34,885 this year

The inflation rate was 6.5 percent

To find: Salary worth if inflation rate was 6.5 percent

From given,

Inflation rate = 6.5%

Therefore,

Worth of salary due to inflation = 100 % - 6.5 % = 93.5 %

Money earned in this year by Perry = $ 34, 885

Therefore,

Worth of Perry salary due to inflation = 34,885 x 93.5%

Thus the salary of Perry if inflation is 6.5 % is $ 32617.475

The answer would be $32,617.48

Step-by-step explanation:

7

step-by-step explanation:

step-by-step explanation:

to find if any function is an inverse of the other, put the first equation in as x in the next one. then simplify and solve. if at the end you get the statement y = x, then it is an inverse. if you get anything else, it is not.