Question: Alec, Daniel, William, and Stephen decide today to save for retirement. Each person wants to retire by age 6 2 and puts $ 1 0

Alec, Daniel, William, and Stephen decide today to save for retirement. Each person wants to retire by age 62 and puts $10,700 into an account earning 10% compounded annually. (FV of $1, PV of $1, FVA of $1, and PVA of $1)(Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places.)
Required:
Calculate how much each person will have accumulated by the age of 62.

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