$150,000.00 in year 2013 is equivilant to what dollar amount in the year 1855?
asked Feb 14, 2013 in Word Problem Answers by anonymous

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2 Answers

If we stick just to the information given in the problem, then we can't answer it because the problem doesn't tell us about inflation, prices, and so on.  The problem does not provide enough information to reach an answer.

If we used an inflation calculator, like the one here ( http://www.westegg.com/inflation/infl.cgi ) (it only goes up to 2013), we might find that $150,000 in 2013 would be about $6,087 in 1855.

If we used the US Department of Labor's Consumer Price Index (see here: https://www.minneapolisfed.org/community_education/teacher/calc/hist1800.cfm ) we might find that:

1855: 28

2014: 709.9

150000 * (28/709.9)

$150000 in 2014 was about $5916 in 1855.

answered Sep 10, 2014 by johnperkins Top Rated User (103,080 points)

1855: 28

2014: 709.9

150000 * (28/709.9)

$150000 in 2014 was about $5916 in 1855.

answered Feb 14 by Dino Zammit Level 3 User (2,620 points)

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