Basics of Engineering Economy 2nd Edition by Anthony Tarquin,Leland Blank

Exercise 10

According to data from the National Association of Colleges and Employers (NACE), engineering graduates' average salaries of $61,872 were among the highest of the class of 2011. What will the average starting amount be in 2017, if salaries increase at a rate of ( a ) per year, and ( b ) ice the assumed inflation rate of 3.5% per year