T W IA - Mme Value of Money i Help Save & Exit Problem C-1B Calculate the future value of an annuity (LOC-3) (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 25% down payment. For example, to buy a $100,000 home, a person would need to save $25,000. At the end of each year for four years, the women make the following investments: Expected Annual Return Person Mary Kate Ashley Dakota Elle Annuity Payment $4,000 5,000 6.000 6,000 Type of Account Savings CDs Bonds Stocks Problem C-1B Part 1 Required: 1. Calculate how much each woman is expected to accumulate in the investment account by the end of the fourth year. (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.) Person Mary Kate $ Four year Accumulated Investment 15,230.92 18,149.50 20,323.26 18,614.70 Ashley Dakota Elle Prav 5 m Next >