Question
After reviewing the CPI inflation calculator at inflationdata.com, Hanna Lind realized the importance of creating an investment plan for her future. She would need $10,824.50
After reviewing the CPI inflation calculator at inflationdata.com, Hanna Lind realized the importance of creating an investment plan for her future. She would need $10,824.50 in 2015 to have the same purchasing power her $9,200 (stored in a fireproof safe in her home since 2010) had when she put it there. To protect her savings against further inflation and to help her prepare for a healthy financial future, Hanna deposits her $9,200 in an investment account in 2015 earning 4% interest compounded quarterly. How much will Hanna have in her account in 2025? (Use the Table provided.) (Round your answer to the nearest cent.)
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