If an item cost $3,000 in 2005, what would be an equivalent amount in 2007 and 2009? Use the CPI provided in the following table. B-se Year Year 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 CPI 100 102.8 104.7 107 109.1 111.5 114.1 114.4 116.5 119.9 121.7 122.8 a. What would be an equivalent value in 2007? Round to the nearest cent b. What would be an equivalent value in 2009? Round to the nearest cent

College Algebra (MindTap Course List)
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ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
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If an item cost $3,000 in 2005, what would be an equivalent amount in 2007 and 2009?
Use the CPI provided in the following table.
Year
Base
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Year
CPI
100
102.8
104.7
107
109.1
111.5
114.1
114.4
116.5
119.9
121.7
122.9
a. What would be an equivalent value in 2007?
Round to the nearest cent
b. What would be an equivalent value in 2009?
Round to the nearest cent
SAVE R
9°C
op
Transcribed Image Text:If an item cost $3,000 in 2005, what would be an equivalent amount in 2007 and 2009? Use the CPI provided in the following table. Year Base 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Year CPI 100 102.8 104.7 107 109.1 111.5 114.1 114.4 116.5 119.9 121.7 122.9 a. What would be an equivalent value in 2007? Round to the nearest cent b. What would be an equivalent value in 2009? Round to the nearest cent SAVE R 9°C op
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