For each of these situations, determine the savings amount. Use the time value of money tables in and Exhibit 1-A, Exhibit 1-B, and Exhibit 1-C. a. What would be the value of a savings account started with $575, earning 5 percent (compounded annually) after 12 years? (Round FV factor to 3 decimal places and final answer to the nearest whole dollar.) Future value b. Brenda Young desires to have $14,000 eight years from now for her daughter's college fund. If she will earn 8 percent (compounded annually) on her money, what amount should she deposit now? Use the present value of a single amount calculation. (Round PV factor to 3 decimal places and final answer to the nearest whole dollar.) Present value