USA Today reported in 1999 that the median starting salary of graduates of Stanford University's business school was $88,900, which was 15% more than it was the year before. What was the median starting salary of the 1998 graduates of Stanford University's business school? Round your answer to the nearest dollar.
A) $77,304
B) $87,400
C) $104,588
D) $75,565
E) $102,235

Question

Quizplus · Accepted Answer

The median starting salary in 1999 was $88,900, which was 15% more than the previous year. To find the 1998 salary, divide the 1999 salary by 1.15. $88,900 / 1.15 = $77,304 (rounded to the nearest dollar).

USA Today Reported in 1999 That the Median Starting Salary