Ask Question
18 September, 09:20

Joni wants to know how much a pedicure cost back in 1954, when her grandmother was her age. The Consumer Price Index (CPI) in 1954 was 26.7 and is 245.9 this year. A pedicure costs $ 45 today. Round your answer to the nearest penny.

+4
Answers (1)
  1. 18 September, 09:23
    0
    The price of pedicure in 1954 = $4.89

    Explanation:

    The price of pedicure in 1954 = (CPI in 1954 : CPI this year) * Price today = (26.7/245.9) * $45 = $4.89

    Therefore, a pedicure cost $4.89 back in 1954.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Joni wants to know how much a pedicure cost back in 1954, when her grandmother was her age. The Consumer Price Index (CPI) in 1954 was 26.7 ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers