Extra-Credit Opportunity # 2 Saved Help 1 Invested Amount Interest Rate Compounding Jerry $12.200 12% Quarterly Elaine 15,200 10 Semiannually George 22,200 6 Annually Kramer 18,200 8 Annually 2 points 8 02416 eBook Required: 1-a. Calculate the future value for three years. (FV of $1. PV of $1. EVA of $1, and PVA of $.1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) Future Value Jerry Elaine George Kramer Print Referens 1-6. Who has the greatest investment accumulation? Jerry Elaine George Kramer M CAL Dray Nayt 2 The four actors below have just signed a contract to star in a dramatic movie about relationships among hospital doctors. Each person signs independent contracts with the following terms: Contract Terms 2. points 03:40:54 Derek Isabel Meredith George Contract Amount $450,000 490,000 525,000 350,000 Payment Date 2 years 3 years Today 1 year Required: 1-a. Assuming an annual discount rate of 10%, calculate the present value of the contract amount. (PV of $1. PV of $1. EVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) Answer is complete but not entirely correct. Derek Isabel Meredith George Present Value $ 371 902.50 445,454.10 525,000.00 262,962.00 5 2 points Alec, Daniel, William, and Stephen decide today to save for retirement. Each person wants to retire by age 62 and puts $9,600 into an account earning 8% compounded annually. (FV of $1. PV of $1. FVA of S1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) Required: Calculate how much each person will have accumulated by the age of 62. 2 03:40:25 Person Age Initial Investment Accumulated Investment by Retirement (age 62) eBook $ Alec Daniel William Stephen 42 32 22 9.600 9,600 9,000 9,000 Print References