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September 22, 2014

September 22, 2014

Posted by **Peppermintmocha** on Friday, January 14, 2011 at 2:28am.

I'm guessing 1,500 million means 1.5 billion, so I have 1.5 billion divided by 2,000 equals 7,500

2. Joe had an income of 20,000 in 2004. He received a salary increase of 10 percent in 2005. Inflation was 15 percent. How much did Joe make in 2005?

I have 20,000 times 10 equals 2,000 so 20,000 plus 2,000 is 22,000.

Did his real income rise or fall in 2005? Explain your answer.

It fell because he only received a ten percent increase in his salry. The goods he needs to purchase are 5 percent more expensive than the previous year.

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