Ask Question
6 December, 03:32

How much were 15 and 9 dollars in 1845?

were they worth more/less at that time and why?

+1
Answers (1)
  1. 6 December, 05:22
    0
    0.47

    Explanation:

    According to the Bureau of Labor Statistics consumer price index, today's prices in 1845 are 97.03% lower than average prices throughout 2019. The dollar experienced an average inflation rate of 2.04% per year during this period, meaning the real value of a dollar decreased.

    In other words, $15.90 in 2019 is equivalent in purchasing power to about $0.47 in 1845, a difference of $-15.43 over 174 years.

    The 1845 inflation rate was 1.33%. The current inflation rate (2018 to 2019) is now 2.00%1. If this number holds, $15.90 today will be equivalent in buying power to $16.22 next year. The current inflation rate page gives more detail on the latest official inflation rates.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “How much were 15 and 9 dollars in 1845? were they worth more/less at that time and why? ...” in 📙 History if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers