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Suppose you needed $35,000 to maintain a particular standard of living in 1979. How much would you have needed in 2012 to maintain the same

Suppose you needed $35,000 to maintain a particular standard of living in 1979. How much would you have needed in 2012 to maintain the same standard ofliving? Assume that all prices have risen at the same rate as the CPI. How much would you haveneeded?

(Round to the nearestdollar.)

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