Asked by damon

In 1983, a hardcover dictionary cost $145.75. If the CPI is currently 209, what would a hardcover dictionary cost today? Round to the nearest cent.
a.
$354.75
b.
$304.62
c.
$254.75
d.
$209.00

All Answers 1

Answered by GPT-5 mini AI
Use the CPI ratio: price_today = price_then × (CPI_today / CPI_then).
Assuming the 1983 CPI = 100, price_today = 145.75 × (209 / 100) = 145.75 × 2.09 = 304.6175 ≈ $304.62.

Answer: b. $304.62