Charles bought a house in 1961 for $58,101 and sold it in 1990.

(a) If the 1961 CPI is 29.9 and the 1990 CPI is 130.7 how much would the house be worth in 1990 dollars? Answer: $_________

(b) To the nearest hundredth, what is the scaling factor for converting 1961 dollars to 1990 dollars? Answer:__________

(c) If the 1997 CPI is 160.5, how much is the house worth in 1997 dollars? Answer: $_________

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