John Expects to Get a Raise Equal to the Increase

question 152

Multiple Choice

John expects to get a raise equal to the increase in the consumer price index (CPI) . The CPI has gone from 160 to 164. If John's salary last year was $50,000, what salary does he expect to earn this year?

• A) $51,250
• B) $48,750
• C) $52,220
• D) $52,250

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Definitions:

Accumulation

Accumulation refers to the process of gradually collecting or gathering an increasing quantity of a particular substance, items, or data over time.