a) through (c) below. usted for inflation. Revise the above ta

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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The price of gold (end-of-year closing price in dollars per troy ounce) is shown in the table below. The CPI index for the
given years is shown to the right. Complete parts (a) through (c) below.
Average Annual
Consumer Price Index (CPI)
Year 1986 1996 2006 2016
Price $427
Year 1986 1996 2006 | 2016
CPI 109.6 156.9 201.6 240.0
$321 $642 $827
a. The prices shown in the table above are not adjusted for inflation. Revise the above table to express all prices in terms
of 2016 dollars.
Year
1986
1996
2006
2016
2016
Price
(Round to the nearest cent as needed.)
Transcribed Image Text:The price of gold (end-of-year closing price in dollars per troy ounce) is shown in the table below. The CPI index for the given years is shown to the right. Complete parts (a) through (c) below. Average Annual Consumer Price Index (CPI) Year 1986 1996 2006 2016 Price $427 Year 1986 1996 2006 | 2016 CPI 109.6 156.9 201.6 240.0 $321 $642 $827 a. The prices shown in the table above are not adjusted for inflation. Revise the above table to express all prices in terms of 2016 dollars. Year 1986 1996 2006 2016 2016 Price (Round to the nearest cent as needed.)
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