Year CPI
2000 515.8
2001 530.4
2002 538.8
2003 551.1
2004 565.8
2005 585.0
2008 645.0
2009 642.7
2010 653.2
2016 719.0
1. The average price of a cup of coffee went from $2.15 in 2005 to $2.50 in 2010. Compute the real rate of change in the price of coffee.
2. The starting salary for finance grads increased from $40,000 in 2000 to $60,000 in 2016. What was the annualized real rate of change in the starting salary?