However on average goods today cost 81 times what they did, Financial Management

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However on average goods today cost 81 times what they did

An engineer in 1950 was earning $5,300 a year. Today she earns $53,000 a year. However, on average, goods today cost 8.1 times what they did in 1950. What is her real income today in terms of constant 1950 dollars? (Round your answer to 2 decimal places.)

Today's real income $

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Financial Management: However on average goods today cost 81 times what they did

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