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 $10,927.50
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 $10,927.50 in 2018 to have the same purchasing power her $9,400 (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 $9,400 in an investment account in 2018 earning 4% 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.)
Period 4 6 Pului e value llileres 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% | 4.0% 1.0050 1.0100 1.0150 1.0200 1.0250 1.0300 1.0350 1.0400 1.0100 1.0201 1.0302 1.0404 1.0506 1.0609 1.0712 1.0816 1.0151 1.0303 1.0457 1.0612 1.0769 1.0927 1.1087 1.1249 1.0202 1.0406 1.0614 1.0824 1.1038|| 1.1255 1.1475 1.1699 1.0253 1.0510 1.0773 1.1041 1.1314 1.1593 1.1877 1.2167 1.0304 1.0615 1.0934 1.1262 1.1597 1.1941 1.2293 1.2653 1.0355 1.0721 1.1098 1.1487 1.1887 1.2299 1.2723 1.3159 1.0407 1.0829 1.1265 1.1717 1.2184 1.2668 1.3168 1.3686 1.0459 1.0937 1.1434 1.1951 1.2489 1.3048 1.3629 1.4233 1.0511 1.1046 1.1605 1.2190 1.2801 1.3439 1.4106 1.4802 1.0564 1.1157 1.1779 1.2434 1.3121 1.3842 1.4600 1.5395 1.0617 1.1268 1.1956 1.2682 1.3449 1.4258 1.5111 1.6010 1.0670 1.1381 | 1.2136 1.2936 | 1.3785 1.4685 1.5640 1.6651 000 12 13 Period 4 6 Pului e value llileres 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% | 4.0% 1.0050 1.0100 1.0150 1.0200 1.0250 1.0300 1.0350 1.0400 1.0100 1.0201 1.0302 1.0404 1.0506 1.0609 1.0712 1.0816 1.0151 1.0303 1.0457 1.0612 1.0769 1.0927 1.1087 1.1249 1.0202 1.0406 1.0614 1.0824 1.1038|| 1.1255 1.1475 1.1699 1.0253 1.0510 1.0773 1.1041 1.1314 1.1593 1.1877 1.2167 1.0304 1.0615 1.0934 1.1262 1.1597 1.1941 1.2293 1.2653 1.0355 1.0721 1.1098 1.1487 1.1887 1.2299 1.2723 1.3159 1.0407 1.0829 1.1265 1.1717 1.2184 1.2668 1.3168 1.3686 1.0459 1.0937 1.1434 1.1951 1.2489 1.3048 1.3629 1.4233 1.0511 1.1046 1.1605 1.2190 1.2801 1.3439 1.4106 1.4802 1.0564 1.1157 1.1779 1.2434 1.3121 1.3842 1.4600 1.5395 1.0617 1.1268 1.1956 1.2682 1.3449 1.4258 1.5111 1.6010 1.0670 1.1381 | 1.2136 1.2936 | 1.3785 1.4685 1.5640 1.6651 000 12 13Step by Step Solution
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