Question: Alec, Daniel, William, and Stephen decide today to save for retirement. Each person wants to retire by age 65 and puts $11,000 into an

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

Alec, Daniel, William, and Stephen decide today to save for retirement. Each person wants to retire by age 65 and puts $11,000 into an account earning 10% compounded annually. Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (EV of $1, PV of $1. EVA of $1. and PVA of $13 Required: Calculate how much each person will have accumulated by the age of 65. Person Age Initial Investment Alec 55 $ 11,000 Daniel 45 11,000 William 35 11,000 Stephen 25 11,000 Accumulated Investment by Retirement (age 65)

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