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26 August, 09:28

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.

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  1. 26 August, 11:02
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    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.
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