QuestionIn 1992, what would a house priced at \$29,000 in 1972 be, given the CPI was 41.8 in 1972 and 140.3 in 1992? Round to the nearest dollar.

Studdy Solution
Round the price in1992 to the nearest dollar.
$$Price_{1992} = \$98,234$$The average price of a house in1992 would be $98,234 if it grew with inflation.