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Pepsi [2]
3 years ago
13

Harry spent $39,000 in 2009 and $42,000 in 2014 on goods and services. The consumer price index was 220 for 2009 and 231 for 201

4. Harry’s 2009 spending in 2014 dollars is about?
Business
2 answers:
luda_lava [24]3 years ago
7 0

Answer:

this is old

Explanation:

taking points

alexira [117]3 years ago
6 0

Answer:

= $40,950

Explanation:

<em>The consumer price index is used to measure the rate of inflation and increase in price level over a period of  time. </em>

<em>A change in price index from 220 to 231 indicate an inflation rate of 5%</em>

Therefore, year 2009 spending of $39,000 in 2014 dollars will equal

= 231/220  × 39,000

= $40,950

Year 2009 spending of $39,000 in 2014 dollars =$40,950

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