Wednesday
October 22, 2014

Homework Help: Econ

Posted by Rebekah on Tuesday, February 11, 2014 at 9:10am.

1. When Joe started his job at the laundromat 5 years ago, his wage was $5.50 an hour. Today his wage is $8.50 an hour. If Joe started his job in the base year, and his real wage is the same as when he started, what is the Consumer Price Index today?

2. The International Disc Jockey\'s Union has a wage contract that stipulates a yearly wage increase based on the Consumer Price Index. If this year\'s wage is $25.00, the current CPI is 180, and the contract was first signed in the base year, what was the original salary the first year of the contract?

3. Shelby bought her dream car, a 1966 red convertible Mustang, with a loan from her credit union. If Shelby paid 5.7% and the bank earned a real rate of return of 4.7%, what was the inflation rate over the life of the loan?

4. Tim is feeling magnanimous, and decides to loan his mother enough for her to pay off her credit card bills. If Tim wants to earn 3.3% and expects inflation to be 4.3%, how much will he charge his mother for the loan?


thanks

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

econ - When Joe started his job at the laundromat 5 years ago, his wage was $4....
algebra - restaurants typically pay wait staff an hourly wage that is lower than...
microeconomics - utilize your knowledge of supply/demand analysis and show ...
math - Hi I can't remember how to figure this out. Can you give me an idea? In ...
math - Jim and Joe were running together. Jim's average speed was 400 meters per...
Math - In 1968, the U.S. minimum wage was $1.60 per hour. In 1976, the minimum ...
macroeconomics - Suppose in 2009 the united states congress passes a minimum ...
math - I borrowed money from Joe. I spent 5.50 of it on lunch, and half of the ...
Algebra - Minimum Wage. In 1995, the minimum wage was $4.25 per hour, and by ...
PLEASE HELP - An employee who produces x units per hour earns an hourly wage of ...

Search
Members