Kelly Malone plans to have $55 withheld from her monthly paycheck and deposited in a savings account that earns 12% annually. compounded monthly. If Malone continues with her plan for one and one-half years, how much will be accumulated in the account the date of the last deposit? (PV of $1. FV of $1. PVA of $1, and FVA of $1) Note: Use appropriate factor(s) from the tables provided. Round your final answer to 2 decimal places. Round "Table Factor" t decimal places. Periodic Cash Flow Table Values are Based on: n = Table Factor Total Accumulation
Kelly Malone plans to have $55 withheld from her monthly paycheck and deposited in a savings account that earns 12% annually. compounded monthly. If Malone continues with her plan for one and one-half years, how much will be accumulated in the account the date of the last deposit? (PV of $1. FV of $1. PVA of $1, and FVA of $1) Note: Use appropriate factor(s) from the tables provided. Round your final answer to 2 decimal places. Round "Table Factor" t decimal places. Periodic Cash Flow Table Values are Based on: n = Table Factor Total Accumulation
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 $55 withheld from her monthly paycheck and deposited in a savings account that earns 12% annually,
compounded monthly. If Malone continues with her plan for one and one-half years, how much will be accumulated in the account on
the date of the last deposit? (PV of $1, FV of $1, PVA of $1, and FVA of $1)
Note: 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:
n
i
=
Table Factor
Total Accumulation
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