# Question: fix the basket at 3 footballs and 4 basketballs find...

###### Question details

Fix the basket at 3 footballs and 4 basketballs.

Find the prices: **SHOW ALL WORK.**

Year |
Price of Footballs |
Price of Basketballs |

1 |
$10 |
$12 |

2 |
$12 |
$15 |

3 |
$14 |
$18 |

1. Compute the Cost of the Basket

The cost in Year 1 =

The cost in Year 2 =

The cost in Year 3 =

2. Using Year 1 as the base year, compute the CPI for each year

CPI in Year 1 =

CPI in Year 2 =

CPI in Year 3 =

3. Using CPI, compute the inflation rate

Inflation Rate for Year 2 =

Inflation Rate for Year 3 =

4. Someone graduated from school and took his first job in 1982, which paid a salary of $15,000.

CPI in 1982 = 96.5 CPI in 2012 = 229.5 What is his salary in
2012 dollars? **SHOW ALL WORK.**