Question: Alec, Daniel, William, and Stephen decide today to save for retirement. Each person wants to retire by age 66 and puts $10,900 into an account

Alec, Daniel, William, and Stephen decide today to save for retirement. Each person wants to retire by age 66 and puts $10,900 into an account earning 9% compounded annually. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) Required: Calculate how much each person will have accumulated by the age of 66. Person Age Initial Investment Accumulated Investment by Retirement (age 66) Alec 56 Daniel 46 10,900 10,900 10,900 10,900 William 36 Stephen 26
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