In 2012, per capita spending on health care in the United States was about $10,100. If this amount increased by 3 percent a year, what would be the amount of per capita spending for health care in 10 years? Hint: Use Exhibit 1-A. (Round FV factor to 3 decimal places and final answer to 2 decimal places.) Future per capita spending Exhibit 1 -A Future Value (Compounded Sum) of $1 after a Given Number of Time Periods Period 1% 2% 3% 4% 6% 7% 8% 9% 10% 11% 5% 1.05 1 1.01 1.02 1.03 1.04 1.06 1.07 1.08 1.09 1.1 1.11 2 1.02 1.061 1.082 1.103 1.124 1.145 1.166 1.188 1.21 1.232 1.04 1.061 3 1.03 1.093 1.125 1.158 1.191 1.225 1.26 1.295 1.331 1.368 4 1.041 1.082 1.126 1.17 1.216 1.262 1.311 1.36 1.412 1.464 1.518 5 1.051 1.104 1.159 1.217 1.276 1.338 1.403 1.469 1.539 1.611 1.685 6 1.062 1.126 1.194 1.265 1.34 1.419 1.501 1.587 1.677 1.772 1.87 7 1.072 1.149 1.23 1.316 1.407 1.504 1.606 1.714 1.828 1.949 2.076 8 1.083 1.172 1.267 1.369 1.477 1.594 1.718 1.851 1.993 2.144 2305 9 1.094 1.195 1.305 1.423 1.551 1.689 1.838 1.999 2.172 2.358 2.558 10 1.105 1.219 1.344 1.48 1.629 1.791 1.967 2.159 2.367 2.594 2.839 11 1.116 1.243 1.384 1.539 1.71 1.898 2.105 2332 2.58 2.853 3.152 12 1.127 1.268 1.426 1.601 1.796 2012 2.252 2.518 2.813 3.138 3.498 13 1.138 1.294 1.469 1.665 1.886 2.133 2.41 2.72 3066 3.452 3.883 14 1.149 1.319 1.513 1.732 1.98 2261 2.579 2.937 3.342 3.797 431 15 1.161 1.346 1.558 1.801 2.079 2397 2.759 3.172 3.642 4.177 4.785 16 1.173 1.373 1.605 1.873 2.183 2.54 2.952 3.426 3.97 4.595 5.311 17 1.184 1.4 1.653 1.948 2 292 2.693 3.159 3.7 4 328 5.054 5.895 5 18 1.196 1.428 1.702 2026 2.407 2.854 338 3.996 4.717 5.56 6 544 19 1.208 1.457 1.754 2.107 2 527 3.026 3617 4 316 5.142 6.116 7.263 20 1.22 1.486 1.806 2.191 2.653 3.207 3.87 4.661 5.604 6.727 8062 25 1.282 1.641 2094 2666 3386 4 292 6.848 8.623 10835 13 585 5.427 7.612 30 1.348 1.811 2.427 3243 4322 5.743 10.063 13 268 17.449 22.892 40 1.489 2 208 3.262 4.801 7.04 10 286 14.974 21.725 45.259 65 001 31.409 74.358 50 1.645 2.692 4.384 7.107 11.467 18.42 29.457 46.902 117 391 184.565 Period 12% 13% 14% 15% 16% 17% 18% 19% 20% 25% 30% 1 1.12 1.13 1.14 1.15 1.16 1.17 1.18 1.19 1.2 1.25 1.3 2 1.254 1.277 1.3 1.323 1.346 1.369 1.392 1.416 1.44 1.563 1.69 3 1.405 1.443 1.482 1.521 1.561 1.602 1.643 1.685 1.728 1.953 2.197 4 1.574 1.63 1.689 1.749 1.811 1.874 1.939 2005 2.074 2.441 2.856 5 1.762 1.842 1.925 2.011 2.1 2.192 2.288 2.386 2.488 3.052 3.713 6 1.974 2.082 2.195 2.313 2.436 2.565 2.7 2 84 2.986 3.815 4.827 7 2.211 2.353 2.502 2.66 2.826 3.001 3.185 3.379 3.583 4.768 6.275 8 2.476 2.658 2.853 3.059 3.278 3.511 3.759 4.021 4.3 5.96 8.157 9 9 2.773 3.004 3.252 3.518 3.803 4.108 4.435 4.785 5.16 7.451 10.604 10 3.106 3.395 3.707 4.046 4.411 4.807 5.234 5.695 6.192 9.313 13.786 11 3.479 3.836 4.226 4.652 5.117 5.624 6.176 6.777 7.43 11 642 17.922 12 3 896 4.335 4.818 5.35 5.936 6.58 7.288 8.064 8.916 14.552 23.298 13 4363 4.898 5.492 6.153 6.886 7.699 8.599 9.596 10.699 18.19 30.288 14 4.887 5.535 6.261 7.076 7.988 9.007 10.147 11.42 12.839 22.737 39.374 15 5.474 6.254 7.138 8.137 9.266 10.539 11.974 13.59 15.407 28.422 51.186 16 6.13 7.067 8.137 9.358 10.748 12.33 14.129 16.172 18.488 35.527 66.542 17 6.866 7.986 9.276 10.761 12.468 14.426 16.672 19 244 22.186 44.409 86.504 18 7.69 9.024 10.575 12.375 14.463 16.879 19.673 22.901 26.623 55.511 112.455 19 8.613 10.197 12.056 14.232 16.777 19.748 23.214 27.252 31.948 69.389 146.192 20 9.646 11.523 13.743 16.367 19.461 23.106 27.393 32.429 38.338 86.736 190.05 25 17 21.231 26.462 32.919 40.874 50.658 62.669 77.388 95 396 264.698 705.641 30 29.96 39.116 50.95 66.212 85.85 111.065 143.371 184.675 237.376 807.794 2619.996 40 93.051 132.782 188.884 267.864 378.721 533.869 750.378 1051.668 1469.772 7523.164 36118.865 50 289.002 450.736 700.233 1083.657 1670.704 2566.215 3927.357 5988.914 9100.438 70064.923 497929.223
