Question

From class we learned that in 2010 the federal debt (in millions) was $13,561,623 and the population of the U.S. was 309 million. Express your answers rounded to the nearest cent.
a) Compute the federal debt per capita in 2010. $ 43888.75
b) Use the CPI table from your text to compute what this value would be in 2002 dollars. 2002= 179.88

Answer 1

Question A: The per capita debt would be $43,888.75. 

Per capita means the amount per person. To find this amount, we need to take the total debt and divide it by the number of people.

13,561,623 divided by 309 = 43,888.75

For Question B, you will need to have the other CPI value from the table.