C - Homework - Time Value of Money Help Save & Exit Check my Problem C-1B Calculate the future value of an annuity (LOC-3) [The following information applies to the question displayed below.) Mary Kate, Ashley, Dakota, and Elle each want to buy a new home. Each needs to save enough to make a 25% down payment. For example, to buy a $100,000 home, a person would need to save $25,000. At the end of each year for four years, the women make the following investments: Expected Annual Return Person Mary Kate Ashley Dakota Elle Annuity Payment $4,000 5,000 6,000 6,000 Type of Account Savings CDS Bonds Stocks Problem C-1B Part 2 2. What is the maximum amount each woman can spend on a home, assuming she uses her accumulated investment account to make a 25% down payment? (FV of $1. PV of $1. EVA of $1. and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) Person Maximum Home Purchase Mary Kate Dakota