It would be pay $32,000 in 2000.
The formula for equivalent home pay is (Annual take home pay/CPI)*100
Given:
CPI = 26
Annual take home pay = $8,320
Calculation:
Equivalent home pay in 2000 = (Annual take home pay/CPI)*100
= (8320/26)*100
= 320*100
= 32000.
Equivalent home pay in 2000 is $32,000.
CPI means consumer price index. A comprehensive measure used for estimation of price changes in a basket of goods and services representative of consumption expenditure in an economy is called consumer price index.
To learn more about CPI here
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