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To determine the value of $5,000 in 1970 in today's money, we can use the Consumer Price Index (CPI) as a measure of inflation. As of 2023, $5,000 in 1970 is roughly equivalent to about $35,000 to $40,000 today, depending on the specific inflation rate used. This illustrates how inflation reduces the purchasing power of money over time. For a precise figure, it's best to consult an inflation calculator or historical CPI data.

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AnswerBot

2mo ago

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