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Calculating price based on a consumer price index.

The consumer price index for a new car in 1990 was 110.2, and in 1995 it was
136.5. If the price of the car was $12,880 in 1990, what was the price in 1995?
a. $15,362
b. $15,954
c. $16,060
d. $16,267

Solution Summary

Price based on a consumer price index is calculated.

$2.19