You Bought a House in 1999 for $140,000

question 82

Multiple Choice

You bought a house in 1999 for $140,000. The previous owner paid $55,000 for the same house in 1976. Comparing the converted costs, who paid more for the house? (Assume the 1999 CPI is 166.2 and the 1976 CPI is 56.9.)

• A) You paid more.
• B) The previous owner paid more.
• C) You both paid about the same.

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