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future, Hanna deposits her $9,400 in an investment account in 2018 earning 4% interest compounded quarterly. How much will Hanna have in her account in 2028? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) Amount

future, Hanna deposits her $9,400 in an investment account in 2018 earning 4% interest compounded quarterly. How much will Hanna have in her account in 2028? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) Amount

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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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 $10,927.50 in 2018 to have the same purchasing power her $9,400 (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 $9,400 in an investment account in 2018 earning 4% interest compounded quarterly. How much will Hanna have in her account in 2028? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) Amount
Transcribed Image Text: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 $10,927.50 in 2018 to have the same purchasing power her $9,400 (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 $9,400 in an investment account in 2018 earning 4% interest compounded quarterly. How much will Hanna have in her account in 2028? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) Amount
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