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[The following information applies to the question displayed below.] Mary Kate, Ashley, Dakota, and Elle each want to buy a new home. Each needs to save enough to make a 20% down payment. For example, to buy a $100,000 home, a person would need to save $20,000. At the end of each year for five years, the women make the following investments:

Person	Annuity Payment			Type of Account	Expected Annual Return
Mary Kate	$	2,500		Savings		3	%
Ashley		3,500		CDs		5
Dakota		4,500		Bonds		6
Elle		4,500		Stocks		12

2. What is the maximum amount each woman can spend on a home, assuming she uses her accumulated investment account to make a 20% down payment? (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.)

person	Maximum Home Purchase
Mary Kate
Ashley
Dakota
Elle