When Julie Entered College in 2011, She Dreamed of Making

question 12

Multiple Choice

When Julie entered college in 2011, she dreamed of making $50,000 when she graduated. The CPI in 2011 was 226.4. Julie graduated in 2016. (Thinking about money rather than studies slowed her progress a bit.) The 2016 CPI was 237.1. What must Julie earn in order to have the same buying power that $50,000 had in 2011?

• A) About $105,800
• B) About $94,800
• C) About $52,400
• D) About $44,800
• E) It can't be calculated from the information given.

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Definitions:

Financial Experts

Professionals with extensive knowledge and expertise in managing, analyzing, and advising on financial matters, including investments, budgeting, and financial planning.

Ideal Budget

A financial plan that optimally allocates income towards expenses, savings, and debt repayment, according to personal or family goals.

Types of Expenses

Various categories of costs incurred by individuals or organizations, including fixed, variable, operational, and capital expenses.

Income

Money received, especially on a regular basis, for work or through investments.