Your parents bought their first car for $5,000. the price level in the year your parents bought their car was 50, while the pric

Question

pentagon [3]

3 years ago

14

Your parents bought their first car for $5,000. the price level in the year your parents bought their car was 50, while the pric

e level today is 200. calculate how much your parents' car would have cost if they bought it today.

Business

1 answer:

skelet666 [1.2K] · Answer 1 · 2022-05-28T08:30:11+03:00

skelet666 [1.2K]3 years ago

3 0

<span>Car when parent bought it= 5000$ level when parent bought it =50 Car when I bought it= x$ level when I bought it =200 x=(5000*200) divided by 50 x=5000*4 =20000 Answer for parents car value today = 20000$</span>