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What would be the comparable rent

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Reference no: EM132394867

A) If rent for a particular apartment was $537/month in 1980 (CPI = 82.4), what would be the comparable rent in 1990 (CPI 130.7)? Round your answer to the nearest cent (i.e. two decimal places).

B) The Consumer Price Index

Is representative of the typical family budget in the Midwest.

Was originally developed to determine salary adjustments.

Is updated every three years to reflect inflation.

Was last updated in 1981.

Reference no: EM132394867

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