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 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 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 Age Initial Investment Accumulated Investment by Retirement (age 68) 58 $ Alec Daniel William 48 10,400 10,400 10.400 10.400 38 Stephen 28

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