Suppose you needed $0.27 to buy a particular box of macaroni and cheese in 1977. How much would it cost to buy the same box of macaroni and cheese in 2003? Assume that all prices have risen at the same rate as the CPI. uestion content area bottom left Part 1 How much would it cost? Average Annual Consumer Price Index (CPI) (1982-1984=100) Year CPI Year CPI Year CPI 1976 56.9 1989 124.0 2001 177.1 1977 60.6 1990 130.7 2002 179.9 1978 65.2 1991 136.2 2003 184.0 1979 72.6 1992 140.3 2004 188.9 1980 82.4 1993 144.5 2005 195.3 1981 90.9 1994 148.2 2006 201.6 1982 96.5 1995 152.4 2007 207.3 1983 99.6 1996 156.9 2008 215.3 1984 103.9 1997 160.5 2009 214.5 1985 107.6 1998 163.0 2010 218.1 1986 109.6 1999 166.6 2011 224.9 1987 113.6 2000 172.2 2012 229.6 1988 118.3
Suppose you needed $0.27 to buy a particular box of macaroni and cheese in 1977. How much would it cost to buy the same box of macaroni and cheese in 2003? Assume that all prices have risen at the same rate as the CPI. uestion content area bottom left Part 1 How much would it cost? Average Annual Consumer Price Index (CPI) (1982-1984=100) Year CPI Year CPI Year CPI 1976 56.9 1989 124.0 2001 177.1 1977 60.6 1990 130.7 2002 179.9 1978 65.2 1991 136.2 2003 184.0 1979 72.6 1992 140.3 2004 188.9 1980 82.4 1993 144.5 2005 195.3 1981 90.9 1994 148.2 2006 201.6 1982 96.5 1995 152.4 2007 207.3 1983 99.6 1996 156.9 2008 215.3 1984 103.9 1997 160.5 2009 214.5 1985 107.6 1998 163.0 2010 218.1 1986 109.6 1999 166.6 2011 224.9 1987 113.6 2000 172.2 2012 229.6 1988 118.3
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.4: Geometric Sequences And Series
Problem 6SC
Related questions
Question
Suppose you needed $0.27 to buy a particular box of macaroni and cheese in 1977.
How much would it cost to buy the same box of macaroni and cheese in 2003?
Assume that all prices have risen at the same rate as the CPI.
How much would it cost to buy the same box of macaroni and cheese in 2003?
Assume that all prices have risen at the same rate as the CPI.
uestion content area bottom left
Part 1
How much would it cost?
Average Annual Consumer Price Index (CPI) (1982-1984=100)
|
Year
|
CPI
|
Year
|
CPI
|
Year
|
CPI
|
|---|---|---|---|---|---|
|
1976
|
56.9
|
1989
|
124.0
|
2001
|
177.1
|
|
1977
|
60.6
|
1990
|
130.7
|
2002
|
179.9
|
|
1978
|
65.2
|
1991
|
136.2
|
2003
|
184.0
|
|
1979
|
72.6
|
1992
|
140.3
|
2004
|
188.9
|
|
1980
|
82.4
|
1993
|
144.5
|
2005
|
195.3
|
|
1981
|
90.9
|
1994
|
148.2
|
2006
|
201.6
|
|
1982
|
96.5
|
1995
|
152.4
|
2007
|
207.3
|
|
1983
|
99.6
|
1996
|
156.9
|
2008
|
215.3
|
|
1984
|
103.9
|
1997
|
160.5
|
2009
|
214.5
|
|
1985
|
107.6
|
1998
|
163.0
|
2010
|
218.1
|
|
1986
|
109.6
|
1999
|
166.6
|
2011
|
224.9
|
|
1987
|
113.6
|
2000
|
172.2
|
2012
|
229.6
|
|
1988
|
118.3
|
|
|
|
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