Gary bought a house in 1962 for $73,442 and sold it in 2001. (a) If the 1962 CPI is 30.9 and the 2001 CPI is 177.7 how much would the house be worth in 2001 dollars? (b) To the nearest hundredth, what...

Gary bought a house in 1962 for $73,442 and sold it in 2001.

(a) If the 1962 CPI is 30.9 and the 2001 CPI is 177.7 how much would the house be worth in 2001 dollars?

(b) To the nearest hundredth, what is the scaling factor for converting 1962 dollars to 2001 dollars?

(c) If the 2002 CPI is 183, how much is the house worth in 2002 dollars?