Essay
Suppose that Jim's income in year 1 was $45,000.Over the next four years,his income increases by 5 percent per year.At the same time,the economy experiences an inflation rate of 2 percent per year.At the end of four years,what will be Jim's real income?
Correct Answer:
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$45,000 
3% = 46,350 3% = 47,741 3% = ...View Answer
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Correct Answer:
Verified
3% = 46,350 3% = 47,741 3% = ...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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