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The Sanitation Department's budget in 2000 was $3.2 million dollars. What is this budget in 2008 constant (real) dollars, rounded to the nearest tenth of
The Sanitation Department's budget in 2000 was $3.2 million dollars. What is this budget in 2008 constant (real) dollars, rounded to the nearest tenth of a million? Use the following information to calculate your answer: CPI-U value in 2000=172.2 and CPI-U value in 2008=218.8. Formula - also given in your notes: ($ amount in Year "X") * (Goal Year CPI-U value/Year "X" CPI-U value) = ($ amount in "Goal Year dollars")
A. 1.3 million in 2008 dollars
B. 4.1 million in 2008 dollars
C. 2.5 million in 2008 dollars
D. 5.3 million in 2008 dollars
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