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21 June, 07:06

A movie star was paid $1 million in 1960 to do a movie. The CPI was 29.3 in 1960 and the CPI in 2012 was 226.665. Approximately how much did the movie star earn in 2012 dollars?

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  1. 21 June, 07:45
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    about $7.736 million

    Step-by-step explanation:

    The effective earnings are proportional to the CPI. The CPI increased by a factor of 226.665/29.3 ≈ 7.736 over the years, so the effective earnings are presumed to increase by that same factor.

    $1 million * 7.736 = $7.736 million
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Home » Mathematics » A movie star was paid $1 million in 1960 to do a movie. The CPI was 29.3 in 1960 and the CPI in 2012 was 226.665. Approximately how much did the movie star earn in 2012 dollars?
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