Captain America as a captain in the US Army during World War II earned around $4,800 annually in 1944. While in 2021, as he is still a captain of the US Army, he earns $52,596 per year. Suppose the price index was 17.6 in 1944. The price index in 2020 is 1470.7% of that in 1944. a. What is the price index in 2020? b. How much does the Captain America’s pay in 1944 worth in terms of 2021’s price?

/in /by

Captain America as a captain in the US Army during World War II earned
around $4,800 annually in 1944. While in 2021, as he is still a
captain of the US Army, he earns $52,596 per year. Suppose the price
index was 17.6 in 1944. The price index in 2020 is 1470.7% of that in
1944.

a. What is the price index in 2020?

b. How much does the Captain America’s pay in 1944 worth in terms of
2021’s price?

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