Paul just graduated from college and landed his first "real" job, which pays $25,500 a year. In 5 years, what will he need to earn to maintain the same purchasing power if inflation averages 3 percent? Click on the table icon to view the FVIF table The future value, FV, Paul will need to earn if inflation averages 3 percent is $ (Round to the nearest cent.) n 2% 1 3% 1.030 1.061 1.093 2 3 10% 1.100 1.210 1.331 1.464 1.611 1.772 1.949 4 5 6 7 8 9 1% 1.010 1.020 1.030 1.041 1.051 1.062 1.072 1.083 1.094 1.105 1.116 1.127 1.138 1.149 1.161 1.173 1.184 1.196 1.208 1.220 1.232 1.245 1.257 10 11 12 1.020 1.040 1.061 1.082 1.104 1.126 1.149 1.172 1.195 1.219 1.243 1.268 1.294 1.319 1.346 1.373 1.400 1.428 1.457 1.486 1.516 1.546 1.577 8% 1.080 1.166 1.260 1.360 1.469 1.587 1.714 1.851 1.999 2.159 2.332 2.518 2.720 2.937 3.172 1.126 1.159 1.194 1.230 1.267 1.305 1.344 1.384 1.426 1.469 1.513 1.558 1.605 1.653 1.702 1.754 Compound Sum of $1 (FVIF) 4% 5% 6% 7% 1.040 1.050 1.060 1.070 1.082 1.103 1.124 1.145 1.125 1.158 1.191 1.225 1.170 1.216 1.262 1.311 1.217 1.276 1.338 1.403 1.265 1.340 1.419 1.501 1.316 1.407 1.504 1.606 1.369 1.477 1.594 1.718 1.423 1.551 1.689 1.838 1.480 1.629 1.791 1.967 1.539 1.710 1.898 2.105 1.601 1.796 2.012 2.252 1.665 1.886 2.133 2.410 1.732 1.980 2.261 2.579 1.801 2.079 2.397 2.759 1.873 2.183 2.540 2.952 1.948 2.292 2.693 3.159 2.026 2.407 2.854 3.380 2.107 2.527 3.026 3.617 2.191 2.653 3.207 3.870 2.279 2.786 3.400 4.141 2.370 2.925 3.604 4.430 2.465 3.072 3.820 4.741 9% 1.090 1.188 1.295 1.412 1.539 1.677 1.828 1.993 2.172 2.367 2.580 2.813 3.066 3.342 3.642 3.970 4.328 4.717 5.142 5.604 6.109 6.659 7.258 13 14 15 2.144 2.358 2.594 2.853 3.138 3.452 3.797 4.177 4.595 5.054 5.560 6.116 6.727 7.400 8.140 8.954 3.426 3.700 17 6C1819 20 3.996 4.316 4.661 5.034 5.437 1.806 1.860 1.916 1.974 21 22 23 5.871 23 1.974 1.257 1.270 24 2.033 4.741 5.072 5.427 25 1.577 1.608 1.641 1.811 2.208 2.692 1.282 1.348 2.465 2.563 2.666 3.243 4.801 7.107 3.072) 3.225 3.386 4.322 7.040 11.467 7.258 7.911 8.623 13.268 2.094 2.427 3.262 4.384 3.820 4.049 4.292 5.743 10.286 18.420 5.871 6.341 6.848 10.063 21.725 8.954 9.850 10.835 17.449 45.259 117.391 30 40 7.612 14.974 29.457 1.489 1.645 31.409 50 46.902 74.358