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The value of the CPI increases from 144 in year 1 to 166 in year 2....

The value of the CPI increases from 144 in year 1 to 166 in year 2. This means that a good costing $239 in year 1 would on average cost how much in year 2? Round your answer to two decimal places.

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Answer #1

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Price in y year from x year =( price in x year /CPI of the x year)*CPI of the y year

Price in year 2=(239/144)*166

=275.513889

=275.51

the good will cost $275.51 in year 2

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