Article for the saturday evening post

Assignment Help Accounting Basics

Reference no: EM131023382

In 1924, the famous novelist F. Scott Fitzgerald wrote an article for the Saturday Evening Post titled "How to Live on $36,000 a Year," in which he wondered how he and his wife had managed to spend all of that very high income without saving any of it. The CPI in 1924 was 17, and the CPI in 2012 was 230. What income would you have needed in 2012 to have had the same purchasing power that Fitzgerald's $36,000 had in 1924? Be sure to show your calculation.

Reference no: EM131023382

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