OFV = (PV x 1" o FV = PV X (1+ir" Use either the table of future value factors, your financial calculator, or the future value formule to answer the questions that follow. Paolo On Paolo's first birthday, his parents deposited $12,500 into a savings account that earns a fixed rate of 8.00% and compounds interest annually. By Paolo's 23rd birthday, his account will have accumulated (Hint: Round your answer to the nearest cent.) What If Scenario If Paolo's parents had waited until his 10th birthday to make their initial deposit of $12,500 into the same account, by Paolo's 23rd birthday, the balance would have been $ (Hint: Round your answer to the nearest cent.)