If You Currently Make $25,000 a Year and the CPI

question 173

True/False

If you currently make $25,000 a year and the CPI rises from 110 today to 150 in five years, then you need to be making $43,333.33 in five years to have kept pace with consumer price inflation.

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Definitions:

Liability

The state of being responsible for something, especially in terms of legal or financial obligations.

Unauthorized

Refers to actions taken without official permission or approval.

Personally Liable

Being personally responsible for fulfilling a legal obligation or paying off a debt, not limited to business or corporate liabilities.

Forge

To falsify something, especially a document, with the intent to deceive or defraud.