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Using the table below, find the real value of a $2400 payment to be received each...

Using the table below, find the real value of a $2400 payment to be received each year given the following CPI values. Next find the amount that this $2400 should be adjusted to, in order to keep its real value at $2400.

Instructions: Round your answers to two decimal places.

Year CPI Real value of $2400 Cost of living adjusted payment
2013 100 $2,400 $0
2014 103
2015 105
2016 111
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