question archive In 1988, a certain model of car cost $17000
In 1988, a certain model of car cost $17000
Subject:MathPrice:2.87 Bought7
In 1988, a certain model of car cost $17000. What would be the cost of that car in 2017 dollars?
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Answer:
$66,092.50
Step-by-step explanation:
In 1988, the car cost $17,000
Annual inflation over this period was 3.54% from 1988 to 2017
After adjusted for inflation, $17,000.00 in 1978 is equal to $66,092.50 in 2017
Therefore, the cost of that car in 2017 is closest to $66,092.50
