Paul just graduated from college and landed his first "real" job, which pays $34,800 a year. In 15 years, what will he need to earn to maintain the same purchasing power if inflation averages 4 percent? Click on the table icon to view the FVIF table The future value, FV, Paul will need to earn if inflation averages 4 percent is $ (Round to the nearest cent.) Data Table 1.412 Compound Sum of $1 (FVIF) n 1% 2% 3% 4% 5% 6% 7% 8% 9% 1 1.010 1.020 1.030 1.040 1.050 1.060 1.070 1.080 1.090 2 1.020 1.040 1.061 1.082 1.103 1.124 1.145 1.166 1.188 3 1.030 1.061 1.093 1.125 1.158 1.191 1.225 1.260 1.295 4 1.041 1.082 1.126 1.170 1.216 1.262 1.311 1.360 5 1.051 1.104 1.159 1.217 1.276 1.338 1.403 1.469 1.539 6 1.062 1.126 1.194 1.265 1.340 1.419 1.501 1.587 1.677 7 1.072 1.149 1.230 1.316 1.407 1.504 1.606 1.714 1.828 8 1.083 1.172 1.267 1.369 1.477 1.594 1.718 1.851 1.993 9 1.094 1.195 1.305 1.423 1.551 1.689 1.838 1.999 2.172 10 1.105 1.219 1.344 1.480 1.629 1.791 1.967 2.159 2.367 11 1.116 1.243 1.384 1.539 1.710 1.898 2.105 2.332 2.580 12 1.127 1.268 1.426 1.601 1.796 2.012 2.252 2.518 2.813 13 1.138 1.294 1.469 1.665 1.886 2.133 2.410 2.720 3.066 14 1.149 1.319 1.513 1.732 1.980 2.261 2.579 2.937 3.342 15 1.161 1.346 1.558 1.801 2.079 2.397 2.759 3.172 3.642 16 1.173 1.373 1.605 1.873 2.183 2.540 2.952 3.426 3.970 17 1.184 1.400 1.653 1.948 2.292 2.693 3.159 3.700 4.328 18 1.196 1.428 1.702 2.026 2.407 2.854 3.380 3.996 4.717 19 1.208 1.457 1.754 2.107 2.527 3.026 3.617 4.316 5.142 20 1.220 1.486 1.806 2.191 2.653 3.207 3.870 4.661 5.604 21 1.232 1.516 1.860 2.279 2.786 3.400 4.141 5.034 6.109 22 1.245 1.546 1.916 2.370 2.925 3.604 4.430 5.437 6.659 23 1.257 1.577 1.974 2.465 3.072 3.820 4.741 5.871 7.258 24 1.270 1.608 2.033 2.563 3.225 4.049 5.072 6.341 7.911 25 1.282 1.641 2.094 2.666 3.386 4.292 5.427 6.848 8.623 30 1.348 1.811 2.427 3.243 4.322 5.743 7.612 10.063 13.268 40 1.489 2.208 3.262 4.801 7.040 10.286 14.974 21.725 31.409 50 1.645 2.692 4.384 7.107 11.467 18.420 29.457 46.902 74.358 10% 1.100 1.210 1.331 1.464 1.611 1.772 1.949 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 9.850 10.835 17.449 45.259 117.391 Print Done Done