Question 37 and 38 refer to the following information
The U.S. federal Government tracks the Consumer Price Index (CPI)- a comprehensive standard used to estimate the average price change for the typical goods and services purchased by consumers. This measure gives economics a useful way to estimate the rates of the inflation or deflation, which reflects the respective general increase or decrease of prices of goods and services in the economy. The accompanying tables summarizes the changes in the CPI for the years 2005 through 2014, which can be assumed to be the corresponding percent rates of inflation.

Q. An economist purchases a kitchen applience at the beginning of 2014 for $3,000. The sales person advises him that the only changes in prices for the applience since the beginning of 2012 have been due to inflation. Assuming that is the case, what would have been the purchase price for the applience at the beginning of 2012 correct to the nearest dollars?

Answer

`2895`