Question: Round to 2 decimal places Exercise 5-3 (Algo) Future value; single amount (LO 5-2) Alec, Daniel, Willam, and Stephen decide today to save for retirement.

Round to 2 decimal places

Exercise 5-3 (Algo) Future value; single amount (LO 5-2) Alec, Daniel, Willam, and Stephen decide today to save for retirement. Each person wants to reure by age 62 and puts $10700 into an account eaming 10% compounded annually. Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal ploces. (EV of 51, PV of S1, EVA of S1, and PVA of 51) Required: Calculate how much each person will have accumulated by the age of 62

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