The admission price was $1.00 in 1909. How much would the Speedway have had to charge in 1999 to match the purchasing power of $1 in 1909? In other words, how much was that in 1999? (Don't use a $ sign, use 2 decimal places.)

Question

Mathematics

Kendrick Hardy

5 February, 17:34

The admission price was $1.00 in 1909. How much would the Speedway have had to charge in 1999 to match the purchasing power of $1 in 1909? In other words, how much was that in 1999? (Don't use a $ sign, use 2 decimal places.)

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Answers (1)

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Kirsten Bryan · Answer 1

Answer: 13.04

Here are some consumer price indexes from the past 100 + years:

Year CPI

1909 9.1

1919 17.3

1929 17.1

1939 13.9

1949 23.8

1959 29.1

1969 36.7

1979 72.6

1989 118.3

1999 166.6

2009 214.5

2015 238.5

The admission price was $1.00 in 1909. How much would the Speedway have had to charge in 1989 to match the purchasing power of $1 in 1909? In other words, how much was that in 1989?