In 1976, a certain model of car cost $5,000. What would be the cost of that car in 2012 dollars? How does this compare to the actual cost of a typical new car in 2012
It depends on the inflation rate and the country you live in. In the US, the inflation rate for that period was 313%. So, a $5,000 car in 1976 dollars would be worth:$5,000 x 3.13 =$15,650 in 2012 dollars.
I know nothing about cars, so I don't know how it compares to today's cars.
