Question: Alec, Daniel, William, and Stephen decide today to save for retirement. Each person wants to retire by age 66 and puts $10,300 into an

Alec, Daniel, William, and Stephen decide today to save for retirement. Each person wants to retire by age 66 and puts $10,300 into an account earning 9% compounded annually. (EV of $1, PV of $1. EVA 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 66. Accumulated Investment by Retirement (age 66) Person Current Age Initial Investment Alec 56 $ 10,300 Daniel 46 10,300 William 36 10,300 Stephen 26 10,300

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