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Alec, Daniel, William, and Stephen decide today to save for retirement. Each person wants to retire by age 65 and puts $11,000 into an

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Alec, Daniel, William, and Stephen decide today to save for retirement. Each person wants to retire by age 65 and puts $11,000 into an account earning 10% compounded annually. Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (EV of $1, PV of $1. EVA of $1. and PVA of $13 Required: Calculate how much each person will have accumulated by the age of 65. Person Age Initial Investment Alec 55 $ 11,000 Daniel 45 11,000 William 35 11,000 Stephen 25 11,000 Accumulated Investment by Retirement (age 65)

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