Adjusting for inflation - escalation Consider golfers who led the PGA in winning

Question

Adjusting for inflation - escalation Consider golfers who led the PGA in winnings at different points in time. Note that the winnings are nominal figures (unadjusted for inflation). Use the formula for converting dollar figures from an earlier era into today's dollar figures to convert the original earnings of Nicklaus, Watson, and Woods ('00) to 2009 dollars. Using those figures, fill in the following table, making sure to round your responses to the nearest dollar. List the four golfers in order from lowest inflation-adjusted winnings to highest. Begin by choosing the golfer with the lowest inflation-adjusted winnings from the selection list labeled "4."

Explanation / Answer

$ 308362 in 1973 Has the same buying power as: $1,489,978.79 in 2009.

$ 9188321 in 1973 Has the same buying power as: $11,447,467.69 in 2009.

So the list is :

4 . Tom Watson

3. jack Nicklaus

2. Tiger Woods (2009)

1. Tiger Woods (2000)

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