The annual salaries shown in the following table over the past four years. During this time, the CPI has performed as
Indicated. Determine the annual salary at the end of year 3 in year-zero dollars (b = 0), using the CPI as the indicator of
general price inflation.
End of Year
Salary (A$)
CPI
1
$45,700
2.4%
2
49,500
1.9%
3
51,600
3.3%
4
55,400
3.4%
EOY 3 Salary (R$ in Year 0) is: