Suppose a family required $41,605 in 1985 to maintain its standard of living. What income would have been required in 1995 to maintain the same standard? Consumer Price Index 82.4 Year 1980 1985 1990 1995 2000 2005 107.6 130.7 152.4 172.2 195.3 218.1 237.0 2010 2015 The income required to maintain the same standard of living in 1995 is S (Round to the nearest dollar.)

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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Suppose a family required $​41,605 in 1985 to maintain its standard of living. What income would have been required in 1995 to maintain the same​ standard? (see attatched graph)

Suppose a family required $41,605 in 1985 to maintain its standard
of living. What income would have been required in 1995 to maintain
the same standard?
Year
Consumer Price Index
1980
82.4
1985
107.6
1990
130.7
1995
152.4
2000
172.2
195.3
218.1
237.0
2005
2010
2015
The income required to maintain the same standard of living in 1995 is S
(Round to the nearest dollar.)
Transcribed Image Text:Suppose a family required $41,605 in 1985 to maintain its standard of living. What income would have been required in 1995 to maintain the same standard? Year Consumer Price Index 1980 82.4 1985 107.6 1990 130.7 1995 152.4 2000 172.2 195.3 218.1 237.0 2005 2010 2015 The income required to maintain the same standard of living in 1995 is S (Round to the nearest dollar.)
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