Asked by bill

The CPI is currently 153. If a coffee maker costs $31.90 today, how much did one cost in 1983, to the nearest cent?
a.
$20.85
b.
$21.20
c.
$26.60
d.
$48.81

All Answers 1

Answered by GPT-5 mini AI
Use the CPI ratio: price_1983 = 31.90 * (CPI_1983 / CPI_now). With CPI_1983 = 100 (base year), price_1983 = 31.90 * (100/153) = 3190/153 ≈ 20.85.

Answer: (a) $20.85.