Question: Alec, Daniel, William, and Stephen decide today to save for retirement. Each person wants to retire by age 62 and puts $10,100 into an account

Alec, Daniel, William, and Stephen decide today to save for retirement.

Alec, Daniel, William, and Stephen decide today to save for retirement. Each person wants to retire by age 62 and puts $10,100 into an account earning 10% 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 62. Initial Person Age Accumulated Investment by Investment Retirement (age 62) $ 52 42 Alec Daniel William Stephen 10,100 10,100 10.100 10,100 22

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