8-13. Your younger brother is very concerned about investment performance, but he is willing to tolerate some risk. He decides to invest $100,000 in a mutual fund that will earn 10% per year. The proceeds will be accumulated as a lump sum and paid out at the end of year 10.

Based on the data given in Problem 8-12, what is today’s purchasing power equivalent of your younger brother’s investment? (8.2)