contestada

A movie star was paid $1 million in 1960 to do a movie. the cpi was 29.3 in 1960 and the cpi in 2017 was 255. approximately how much did the movie star earn in 2017 dollars?

Respuesta :

HomertheGenius
CPI is the Consumer Price Index.
CPI is one of the most used statistics.
In 1960 :   CPI 29.3 --------------100 %
In 2017 :   CPI 255 --------------- x %
-----------------------------------------------------
29.3 : 255 = 100 : x
29.3 x = 25,500
x = 25,500 : 29.3
x = 870.3 %
For $1 million in 1960 there is $8.703 million in 2017.
Answer: The movie star earned $8.703 million in 2017.