Explain the aurum flatware cost index

Reference no: EM132155567

Question: Fifty years ago, Grandma Bell purchased a set of gold-plated dinnerware for $55, and last year you inherited it. Unfortunately a fire at your home destroyed the set. Your insurance company is at a loss to define the replacement cost and has asked your help. You do some research and find that the Aurum Flatware Cost Index (AFCI) for gold-plated dinnerware, which was 112 when Grandma Bell bought her set, is at 2050 today. Use the AFCI to update the cost of Bell's set to today's cost to show to the insurance company.

Reference no: EM132155567

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