(a) What is the scaling factor for converting 1964 dollars to 1990 dollars? Answer:
(b) Jonny bought a house in 1964 for $62,854 and sold it in 1990. How much would the house be worth in 1990 dollars? Answer: $
(c) If the 1999 CPI is 166.6, how much is the house worth in 1999 dollars? Answer: $
You can earn partial credit on this problem.