3. While rooting through the attic, you discover a box of old tax forms. You fi nd that your grandmother made $75 working part-time during December 1964 when the CPI was 31.3.

How much would you need to have earned in January of this year to have at least as much real income as your grandmother did in 1964?

To determine the CPI for January of this year, you can visit the Bureau of Labor Statistics website (www.bls.gov).