Summer 2001 and Revised 30 Apr 2001
Imagine this scenario: After years of research, you finally found your great-great-grandfather's Will dated 1850 in which he left an estate consisting of various items, as well as $7,500 in cash which he bequethed to various heirs. How much money would you need to have today to purchase the same quantity of merchandise that you could have bought with that $7,500 in 1850? Check one:
( ) $18,459.24
( ) $41,878.19
( ) $128,917.63
( ) $164,305.85
For the answer to that question, see Current Value of Old Money
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