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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 $9,846.00 today to have the same purchasing power her $7,300 (stored in a fireproof safe in her home for 5 years) 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 $7,300 in an investment account earning 6% interest compounded quarterly. How much will Hanna have in her account in 10 years?
Sagot :
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