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 $10,327.84
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 $10,327.84 in 2018 to have the same purchasing power her $7,500 (stored in a fireproof safe in her home since 2000) 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 $7,500 in an investment account in 2018 earning 6% interest compounded quarterly. How much will Hanna have in her account in 2028? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest dollar amount.)
Future value interest factor of $1 per period at i% for n periods, FVIF(i,n). Period 0.5% 1.0% 1.5% 2.0% 1 1.0050 1.0100 1.0150 1.0200 2 1.0100 1.0201 1.03021.0404 3 1.0151 1.0303 1.0457 1.0612 4 1.0202 1.0406 1.0614 1.0824 - ora 10% 2014 5 1.0253 1.0510 1.0773 1.1041 4101 6 1.0304 1.0615 1.0934 1.1262 1 - 112 113 11404 7 1.0355 1.0721 1.1098 1.1487 or Lee 4724 8 1.0407 1.0829 1.1265 1.1717 The 15-12 9 1.0459 1.0937 1.1434 1.1951 LL L110-11 10 1.0511 1.1046 1.1605 1.2190 er 42 La La 11 1.0564 1.11571.1779 1.2434 e Luce con 12 1.0617 1.1268 1.1956 1.2682 2 1454 L 16096 13 1.0670 1.1381 1.2136 1.2936 LLLLL 14 1.0723 1.1495 1.2318 1.3195 02.01. Le 15 1.0777 1.1610 1.2502 1.3459 2011 Listo 16 1.0831 1.1726 1.2690 1.3728 200-400 500 60 17 1.0885 1.1843 1.2880 1.4002 01110 10 111004 18 1.0939 1.1961 1.3073 1.4282 L L L'1-04 19 1.0994 1.2081 1.3270 1.4568 1000 Loco 20 1.1049 1.2202 1.3469 1.4859 L11464 LI 21 1.1104 1.2324 1.3671 1.5157 de Luz 2 eien 22 1.1160 1.2447 1.3876 1.5460 L: lezen 23 1.1216 1.2572 1.4084 1.5769 24 1.12721.2697 1.4295 1.6084 25 1.1328 1.2824 1.4509 1.6406 26 1.1385 1.2953 1.4727 1.6734 27 1.14421.30821.4948 1.7069 28 1.1499 1.3213 1.5172 1.7410 20 1.1499 1.3213 1.3172 1.1410 29 22 1.1556 1.3345 1.5400 1.7758 10 !.3.10 1.3400 1130 30 1.1614 1.3478 1.5631 1.8114 31 1.1672 1.3613 1.5865 1.8476 32 1.1730 1.3749 1.6103 1.8845 33 1.1789 1.3887 1.6345 1.9222 1.70 1.500 1.03101.9222 34 1.1848 1.4026 1.6590 1.9607 35 1.1907 1.4166 1.6839 1.9999 36 1.1967 1.4308 1.7091 2.0399 37 1.2027 1.4451 1.7348 2.0807 ..2021.4431.1 340 12.000 38 1.2087 1.4595 1.7608 2.1223 1.200 1.100.000 1.14 39 1.2147 1.4741 1.7872 2.1647 !! 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