Suppose admission to a movie cost $7.50 in 2005. Whatwas its price in 1979 dollars? Assume that all prices haverisen at the same rate as the CPI.The price was about $ in 1979.(Round to the nearest cent.)Average Annual Consumer Price Index (CPI) (1982-1984=100)YearCPI Year CPIYear CPI1976 56.91989 124.02001 177.11977 60.6 1990 130.72002179.92003184.01978 65.2 1991 136.21992197972.6140.32004188.9198082.41993 144.5200590.9 1994 148.2 2006200719811982 96.51983 99.61984 103.91985 107.61995 152.41996 156.920081997 160.520091998 163.020101986 109.6 1999 166.620111987113.6 2000 172.220121988118.3195.3201.6207.3215.3214.5218.1224.9229.6

Answered: Suppose admission to a movie cost $7.50…

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter1: Equations And Graphs

Section1.2: Graphs Of Equations In Two Variables; Circles

Problem 111E

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Suppose admission to a movie cost $7.50 in 2005. What was its price in 1979 dollars? Assume that all prices have risen at the same rate as the CPI. The price was about $ in 1979. (Round to the nearest cent.)