An engineer has received $10 000 from his employer for a patent disclosure. He has decided to invest the money in a 15-year savings certificate that pays 8% per year, compounded annually. What will be...

An engineer has received $10 000 from his employer for a patent disclosure. He has decided to invest the money in a 15-year savings certificate that pays 8% per year, compounded annually. What will be the final value of his investment, in terms of today's dollars, if inflation continues at the rate of 6% per year?