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Already famous by the time he arrived at Princeton University in 1933, Einstein had suggested a...

Already famous by the time he arrived at Princeton University in 1933, Einstein had suggested a salary of $3,000. The university didn’t want other scholars being paid more than Einstein and increased the salary to $10,000. The CPI in 1933 is 13 and the CPI in 2017 is 245. What’s Albert’s salary in 2017?

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Answer #1

Albert’s salary in 2017 = Salary in 1933*(CPI in 2017/CPI in 1933) = (10,000)*(245/13) = 2,450,000/13 = 188,461.54

So, Albert's salary in 2017 is $188,461.54

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