$17$

Alec, Daniel, William, and Stephen decide today to save for retirement. Each person wants to retire by age $69$ and puts $$9,800$ into an account earning $9\%$ compounded annually. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)($Use tables, Excel, or a financial calculator. Round your answers to $2$ decimal places.$)$

Required:

Calculate how much each person will have accumulated by the age of $69.$

$\backslash$table$[[$Person$,\backslash$table$[[$Current$],[$Age$]],\backslash$table$[[$Initial$],[$Investment$]],\backslash$table$[[$Accumulated Investment$],[$by Retirement $($age $69)]],],[$Alec$,59,$$$,9,800,],[$Daniel$,49,,9,800,],[$William$,39,,9,800,],[$Stephen$,29,,9,800,]]$