Ask Question
11 November, 04:26

A movie star was paid $1 million in 1960 to do a movie. The CPI was 29.3 in 1960 and the CPI in 2012 was 226.665. Approximately how much did the movie star earn in 2012 dollars?

+5
Answers (1)
  1. 11 November, 04:32
    0
    about $7.736 million

    Step-by-step explanation:

    The effective earnings are proportional to the CPI. The CPI increased by a factor of 226.665/29.3 ≈ 7.736 over the years, so the effective earnings are presumed to increase by that same factor.

    $1 million * 7.736 = $7.736 million
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A movie star was paid $1 million in 1960 to do a movie. The CPI was 29.3 in 1960 and the CPI in 2012 was 226.665. Approximately how much ...” in 📗 Mathematics 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