Question from Business Math Course:
1) 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 $10,773.00 in 2018 to have the same purchasing power her $9,100 (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 $9,100 in an investment account in 2018 earning 6% interest compounded quarterly. How much will Hanna have in her account in 2028? (Use attached Table provided.)
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