The rent for tenants in a building in 1940 was $30 per month. The landlord changes the rent based on the CPI-U. Use the CPI-U chart below to calculate the current rent in 2005. Round to the nearest dollar. Year CPI-U 1940 14.0 1949 23.8 1983 99.6 2000 172.2 2005 195.3 2009 214.5 2014 236.0 2017 245.1 2019 255.7 2020 258.8 $ (b) Show calculations and explain your reasoning.

The rent for tenants in a building in 1940 was $30 per month. The landlord changes the rent based on the CPI-U. Use the CPI-U chart below to calculate the current rent in 2005. Round to the nearest dollar. Year CPI-U 1940 14.0 1949 23.8 1983 99.6 2000 172.2 2005 195.3 2009 214.5 2014 236.0 2017 245.1 2019 255.7 2020 258.8 $ (b) Show calculations and explain your reasoning.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Year	CPI-U
1940	14.0
1949	23.8
1983	99.6
2000	172.2
2005	195.3
2009	214.5
2014	236.0
2017	245.1
2019	255.7
2020	258.8

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