If the price change of cars parallels the change in the CPI (see Table 2 in Example

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If the price change of cars parallels the change in the CPI (see Table 2 in Example 10), what would a car sell for (to the nearest dollar) in 2016 if a comparable model sold for $10,000 in 1999?

Table 2

Table 2 CPI (1982-1984 = 100) Year 1960 1973 1986 1999 2016 Index 29.6 44.4 109.6 156.9 241.7

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Finite Mathematics For Business Economics Life Sciences And Social Sciences

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14th Edition

Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker

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If the price change of cars parallels the change in the CPI (see Table 2 in Example

Question:

Table 2 CPI (1982-1984 = 100) Year 1960 1973 1986 1999 2016 Index 29.6 44.4 109.6 156.9 241.7

Step by Step Answer:

To adjust the price of a car in 1999 to the equivalent ...View the full answer

Finite Mathematics For Business Economics Life Sciences And Social Sciences

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