Question: Exercise 5-3 (Algo) Future value; single amount (LO 5-2) Alec, Daniel, William, and Stephen decide today to save for retirement. Each person wants to retire

Exercise 5-3 (Algo) Future value; single amount (LO 5-2) Alec, Daniel,

Exercise 5-3 (Algo) Future value; single amount (LO 5-2) Alec, Daniel, William, and Stephen decide today to save for retirement. Each person wants to retire by age 64 and puts $10,800 into an account earning 8% compounded annually. Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (FV of $1,PV of $1, FVA of $1, and PVA of \$1) Required: Calculate how much each person will have accumulated by the age of 64

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