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August 1, 2015

Homework Help: Alegebra II

Posted by *BRiANA* on Wednesday, October 8, 2008 at 6:34pm.

Money_Word_Problems: In 1950, the average price of a car was about $2000. This may sound inexpensive but the average income in 1950 was much less than it is now. To compare dollar amounts over time, use the formula V=A/S(C), where A is the old dollar amount, S is the starting years Consumer Price Index (CPI), C is thye converting years CPI, and V is the current value of the old dollar amount. Buying a car for $2000 was like buying a car for ho much money in the year 2000?
(USE THIS CHART)
Year Average CPI
1950 42.1
1960 29.6
1970 38.8
1980 82.4
1990 130.7
2000 174.0

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