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A house that cost $50,000 in 1960 would cost how much in 2010 dollars? Using the CPI table from your textbook (1980 reference year column),

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A house that cost $50,000 in 1960 would cost how much in 2010 dollars? Using the CPI table from your textbook (1980 reference year column), we find the CP1 960 25.4 and CPI2010 232.8. Plugging into the formula, we get the following price in $2010-price in $1960 CPI 1960 232.8 price in $2010 -50,00025,$458,268 Your Turn: the 1960 550,000 bouse cost in tems f 980 dolas? Use the 200 price ndes coltum from yur tox and round to the nearest dollar

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