Kelly Malone plans to have $40 withheld from her monthly paycheck and deposited in a savings account that earns 12% annually, compounded monthly. If Malone continues with her plan for two and one-half years, how much will be accumulated in the account on the date of the last deposit? (PV of $1. EV of $1. PVA of $1. and EVA of $1) (Use appropriate factor(s) from the tables provided. Round your final answer to 2 decimal places. Round "Table Factor" to 4 decimal places.) Periodic Cash Flow Table Values are Based on: 40 n Table Factor Total Accumulation 4
Kelly Malone plans to have $40 withheld from her monthly paycheck and deposited in a savings account that earns 12% annually, compounded monthly. If Malone continues with her plan for two and one-half years, how much will be accumulated in the account on the date of the last deposit? (PV of $1. EV of $1. PVA of $1. and EVA of $1) (Use appropriate factor(s) from the tables provided. Round your final answer to 2 decimal places. Round "Table Factor" to 4 decimal places.) Periodic Cash Flow Table Values are Based on: 40 n Table Factor Total Accumulation 4
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Kelly Malone plans to have $40 withheld from her monthly paycheck and deposited in a savings
account that earns 12% annually, compounded monthly. If Malone continues with her plan for two and
one-half years, how much will be accumulated in the account on the date of the last deposit? (PV of
$1. EV of $1. PVA of $1. and EVA of $1) (Use appropriate factor(s) from the tables provided. Round
your final answer to 2 decimal places. Round "Table Factor" to 4 decimal places.)
Periodic Cash Flow
$
Table Values are Based on:
40
n =
Table Factor
Total Accumulation
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