Question
(1 point) Jonny bought a house in 1962 for $70,022 and sold it in 2000. (a) If the 1962 CPI is 30.9 and the 2000
(1 point) Jonny bought a house in 1962 for $70,022 and sold it in 2000.
(a) If the 1962 CPI is 30.9 and the 2000 CPI is 172.2 how much would the house be worth in 2000 dollars?
Answer: $
(b) To the nearest hundredth, what is the scaling factor for converting 1962 dollars to 2000 dollars?
Answer:
(c) If the 2001 CPI is 177.7, how much is the house worth in 2001 dollars?
Answer: $
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Fundamentals Of Financial Management
Authors: Richard Bulliet, Eugene F Brigham, Brigham/ Houston
11th Edition
1111795207, 9781111795207
