Quiz Journal
Personal Finance
Robert stuffed all of his savings dollars into his mattress 15 years ago. He put $8,500 into his bedding because he did not trust any savings or investment accounts. Average inflation for the past 15 years was 3.25%. How much money does Robert need in his mattress today to have the same purchasing power that he had 15 years ago?
Robert stuffed all of his savings dollars into his mattress 15 years ago. He put $8,500 into his bedding because he did not trust any savings or investment accounts. Average inflation for the past 15 years was 3.25%. How much money does Robert need in his mattress today to have the same purchasing power that he had 15 years ago?
Robert stuffed all of his savings dollars into his mattress 15 years ago. He put $8,500 into his bedding because he did not trust any savings or investment accounts. Average inflation for the past 15 years was 3.25%. How much money does Robert need in his mattress today to have the same purchasing power that he had 15 years ago?
Answer: 13733
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