QuestionIn 1980, CPI was 82.4 and Ivan's house cost \$ 71,900. What was its cost in 1970 when CPI was 38.8? A. \$ 33,900 B. \$ 38,000 C. \$ 38,800 D. \$ 82,400

Studdy Solution
Calculate the price of the house in1970.
$$Price\, in\,1970 = \$71,900 \\times0.471 = \$33,896$$The price of the house in1970 would have been approximately \$33,896. The closest answer choice to this is A. \$33,900. Therefore, the answer is A. \$33,900.