# Value of 1976 Canadian Dollar today

\$100 in 1976

\$442.31 today

The inflation rate in Canada between 1976 and today has been 342.31%, which translates into a total increase of \$342.31. This means that 100 dollars in 1976 are equivalent to 442.31 dollars in 2019. In other words, the purchasing power of \$100 in 1976 equals \$442.31 today. The average annual inflation rate has been 3.44%.

## Inflation timeline in Canada (1976-2020)

The following chart depicts the equivalence of \$100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchasing power, which means that for each year the same goods or services could be bought with the indicated amount of money.

All calculations are performed in the local currency (CAD) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability. Inflation data is provided by governments and international institutions on a monthly basis. Today's values were obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1976-2019) 341.72%
Total Inflation* 342.31%
Annual inflation avg. (1976-2019) 3.52%
Annual inflation avg.* 3.44%
CPI 1976 23.86
CPI 2019 105.4
CPI today* 105.54
\$1 in 1976 \$4.42 in 2019

* Values extrapolated from the last official data to obtain today's values.

## How to calculate today's value of money after inflation?

There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the compound interest formula or the Consumer Price Index (CPI) formula.

#### Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as a compound interest, the following formula can be used: FV = PV (1 + i)n, where:

• FV: Future Value
• PV: Present Value
• i: Interest rate (inflation)
• n: Number of times the interest is compounded (i.e. # of years)

In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much are \$100 worth today. There are 43 years between 1976 and 2019 and the average inflation rate has been 3.4369%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.03)43 = \$441.72

#### Using the CPI formula

When the CPI for both start and end years is known, the following formula can be used:

Final value = Initial value *
CPI final/CPI initial

In this case, the CPI in 1976 was 23.86 and the CPI today is 105.54. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
105.4/23.86
= \$441.72

### Canada inflation - Conversion table

Initial Value Equivalent value
\$1 dollar in 1976 \$4.42 dollars today
\$5 dollars in 1976 \$22.12 dollars today
\$10 dollars in 1976 \$44.23 dollars today
\$50 dollars in 1976 \$221.15 dollars today
\$100 dollars in 1976 \$442.31 dollars today
\$500 dollars in 1976 \$2,211.54 dollars today
\$1,000 dollars in 1976 \$4,423.07 dollars today
\$5,000 dollars in 1976 \$22,115.36 dollars today
\$10,000 dollars in 1976 \$44,230.73 dollars today
\$50,000 dollars in 1976 \$221,153.64 dollars today
\$100,000 dollars in 1976 \$442,307.28 dollars today
\$500,000 dollars in 1976 \$2,211,536.42 dollars today
\$1,000,000 dollars in 1976 \$4,423,072.84 dollars today

Period Value
1976 100
1977 105.63
1978 115.56
1979 125.5
1980 137.75
1981 152.98
1982 171.52
1983 187.42
1984 196.03
1985 203.31
1986 212.25
1987 221.19
1988 230.46
1989 239.4
1990 251.99
1991 264.57
1992 274.5
1993 280.46
1994 285.1
1995 285.76
1996 290.73
1997 297.02
1998 299.34
1999 302.32
2000 310.26
2001 320.2
2002 322.52
2003 334.77
2004 341.72
2005 349.01
2006 356.29
2007 362.25
2008 370.86
2009 375.17
2010 380.13
2011 389.07
2012 398.01
2013 401.32
2014 406.29
2015 412.25
2016 418.87
2017 425.17
2018 433.11
2019 441.72
Today 442.31