The four people below have the following investments. Jerry Elaine George Kramer Invested Interest Amount Rate $12,200 12% 15, 200 10 22, 200 6 18,200 8 Compounding Quarterly Semiannually Annually Annually Required: 1-a. Calculate the future value at the end of three years. (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.) Future Value Jerry Elaine George Kramer You want to save for retirement. Assuming you are now 20 years old and you want to retire at age 60, you have 40 years to watch your investment grow. You decide to invest in the stock market, which has earned about 11% per year over the past 80 years and is expected to continue at this rate. You decide to invest $1,000 today. Required: How much do you expect to have in 40 years? (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answer to 2 decimal places.) Future value