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Alec, Daniel, William, and Stephen decide today to save for retirement. Each person wants to retire by age 64 and puts $9.500 into an account

image text in transcribed Alec, Daniel, William, and Stephen decide today to save for retirement. Each person wants to retire by age 64 and puts $9.500 into an account earning 9% compounded annually. (FV of $1. PV of $1, FVA of $1, and (Use tables, Excel, or a flnenclal calculator. Round your answers to 2 declmal pleces.) Requlred: Calculate how much each person will have accumulated by the age of 64

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