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C-1A Calculate the future value of a single amount [LO2] Alec, Daniel, William, and Stephen decide today to save for retirement. Each person wants to
C-1A Calculate the future value of a single amount [LO2] Alec, Daniel, William, and Stephen decide today to save for retirement. Each person wants to retire by age 65 and puts $10,000 into an account earning 9% compounded annually. Use Table 1. Required: Calculate how much each person will have accumulated by the age of 65. (Do not round FV factors. Round your answers to 2 decimal places. Omit the "$" sign in your response.) Person Age Initial Investment Accumulated Investment by Retirement (age 65) Alec 50 $10,000 $ Daniel 40 10,000 $ William 30 10,000 $ Stephen 25 10,000 $
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