Consumer Price Index (CPI) and home prices in Southwest Florida between 1994 and 2006. The following is one real-life example, of many, illustrating how Van Boven used his determination, knowledge of economics, entrepreneurship, and math to create a significant amount of wealth. Go to the Federal Reserve Bank of Minneapolis website, www.minneapolisfed.org On the home page you will see a box titled "What is a dollar worth?" Click "CPI Calculator Information,\" then "Consumer Price Index and Ination Rates, 1913 - " [middle column contains the CPI] a. The CPI in 1994: . The CPI in 2006: b. The rate of ination between 1994 and 2006 was % Must show formula used and detailed calculation c. In 1994 a house located in San Carlos Park (Fort Myers) was purchased for $97,500. [CBS built in 1990, 3 bedroom-2 bath-2 car garage, 1472 I' 2172 square feet] Using the "What is a dollar worth" box, if this home had increased in value equal to the rate of ination, then its price in 2006 would have been $ . For (c) must print] attach to your problem set the filled in "What is a dollar worth?" box d. In 2006 this home sold for $275,000. Between 1994 and 2006 this home increased in market value by %. :5 o 3% Must show formula used and detailed calculation e. Between 1994 and 2006, Fort Myers home prices have increased than the rate of ination. Using your knowledge of markets, in 25 words or more explain why