Iggie took a university teaching job as an assistant professor in 1974 at a salary of $10,000. by 2003, she had been promoted to full professor, with a salary of $50,000. if the price index was 50 in 1974 and 180 in 2003, then what is iggie's 1974 salary in 2003 dollars?

$36,000

Explanation:

The computation of the lggie's salary is shown below:

= (Iggie salary in 1974) × (2003 price index ÷ 1974 price index)

= ($10,000) × (180 ÷ 50)

= $10,000 × 3.6

= $36,000

Since we have to compute the 2003 salary based on 1974 salary so we consider the 1974 salary and took the 2003 price index as a numerator and 1974 price index as a denominator.

answer; the correct answer to the above statement is (true);

u = 30

continuing your method

= +

subtract from both sides

= - thus

= -

= ⇒ u = 30