I'm doing a research paper in my English class about Tolkien, his works, and their affects on America. one thing I found was that the publishing company that initially published Lord of the Rings in England estimated the losses at 1,000 pounds. That was in 1954, and I would like to figure out how much that would be in today's American dollar. PLEASE HELP! thanks!
2006-11-08 09:05:53 · 3 answers · asked by liz_enator 2 in Education & Reference ➔ Homework Help
hmmm.... to do that you need to know the British economics.... their "real inflation rate" which would tell you how much 1000 pounds is worth in Britain today. Then find out today's exchange rate.
Sue
2006-11-08 09:08:15 · answer #1 · answered by newbiegranny 5 · 1⤊ 0⤋
back then the pound was worth about 3.50 us
in the 52 years since the dollar has changed considerably and ESTIMATE, BECAUSE I DON'T KNOW the 54 dollar is worth at least 20 times what is today. in terms of purchasing power then my estimate is 70k. not bad
2006-11-08 17:17:55 · answer #2 · answered by elmo o 4 · 0⤊ 0⤋
Sue is right as far as she went, and it was a point I had missed. But to complete your calculation - once you do as Sue has suggested - 1,000 British pounds is, today, equal to about $1,750.00. Hope this helps.
2006-11-08 17:17:39 · answer #3 · answered by Pete 4 · 0⤊ 0⤋