Anyone care to help this one.

Question

anonymous · Answer

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tkhunny · Answer

Have you considered a Percent Increase?

Health Care: $\dfrac{967 - 958}{958}$

CPI: $\dfrac{201.6 - 65.2}{65.2}$

mathstudent55 · Answer

Perhaps what you need to do first is translate 1978 dollars into 2006 dollars. Then calculate the percent increase with 2006 dollars.

               CPI                health care costs
1978      65.2                 958,000,000
2006     201.6                         x

$ \dfrac{65.2}{201.6} = \dfrac{958,000,000}{x} $

x = 2,962,159,509 
Adjusted for 1978 dollars, 1978 healthcare cost $2,962,159,509 in 2006 dollars.

Healthcare in 2006 cost $962,000,000,000.

The percent increase is:

$ \dfrac{$962,000,000,000 - $2,962,159,509}{$2,962,159,509} \times 100 $

$= 32,378 \% $

mathstudent55 · Answer

@tkhunny Notice the amounts are $958 _million_ and $967 _billion_

tkhunny · Answer

Right.  Failed to observe that.  Good call.

anonymous · Answer

Wait im still confused... can u do the steps like u did for the other one for this problem so i can follow along better.