Question: Alec, Daniel, William, and Stephen decide today to save for retirement. Each person wants to retire by age 68 and puts $10,400 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 68 and puts $10,400 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 68. Person Alec Daniel William Stephen Age 58 48 38 28 Initial Investment $ 10,400 10,400 10,400 10,400 Accumulated Investment by Retirement (age 68)

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