One dollar placed in a safety deposit box in 1980 is worth
A)less than 50 cents.
B)about 10 cents.
C)zero.
D)between 50 cents and one dollar.
E)more than one dollar.

Question

Quizplus · Accepted Answer

Due to inflation, the value of a dollar in 1980 has significantly decreased over time. The purchasing power of one dollar in 1980 is now equivalent to approximately 31 cents in 2021. Therefore, one dollar placed in a safety deposit box in 1980 would be worth less than 50 cents in today's money.

One Dollar Placed in a Safety Deposit Box in 1980