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In 1949, Sycamore, Illinois built a hospital for about $700,000. In 1987, the county restored the courthouse for about $2.8 m
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Answer #1

Value of Hospital in 2000 dollars = Index in 2000*Cost in 1949/Index in 1949

=117.5*700,000/12

=$6,854,166.67 is the answer

Value of court house in 2000 dollars

= Index in 2000*Cost in 1987/index in 1987

= 117.5*2,800,000/95

=$3,463,157.89 is the answer

From the above answers, it can be observed that cost of hospital is more.

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