The CPI in 2010 was 218,while the CPI in 1980 was 82.If you had $5,000 in 1980,its equivalent purchasing power in 2008 would be $10,850.

Name: The CPI in 2010 was 218,while the CPI in 1980 was 82.If you had $5,000 in 1980,its equivalent purchasing power in 2008 would be $10,850.
Brand: Quizplus
Rating: 4.8 (32 reviews)

Question

Quizplus · Accepted Answer

To find the equivalent purchasing power, adjust for inflation using the CPI values. The formula is: (CPI in 2010 / CPI in 1980) * 1980 amount = equivalent amount in 2010. This gives (218/82) * $5,000 = $13,292.68, not $10,850.

The CPI in 2010 Was 218,while the CPI in 1980