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Business, 06.08.2021 01:00 elijah207

In 1984, a school bus cost $20,000. To answer each of the parts below, assume that the consumer price index (CPI) was 36.8 in 1970, 100 in 1984, and 140.7 in 1992. (5 points:
Part 1 - 2 points; Part II - 2 points; Part III - 1 point)
Part 1: If the price of a school bus increased at the same rate as the CPI from 1970 to 1984,
how much did a school bus cost in 1970? By how much did the price of a school bus
increase from 1970 to 1984? (2 points: 1 point each)

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In 1984, a school bus cost $20,000. To answer each of the parts below, assume that the consumer p...
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