Kelly Malone plans to have $58 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) (Use approprlate factor(s) from the tables provided. Round your final answer to 2 decimal places. Round "Table Factor" to 4 declmal places.) Periodic Cash Table Factor Total Accumulation Flow Table Values are Based on:
Kelly Malone plans to have $58 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) (Use approprlate factor(s) from the tables provided. Round your final answer to 2 decimal places. Round "Table Factor" to 4 declmal places.) Periodic Cash Table Factor Total Accumulation Flow Table Values are Based on:
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 24P
Related questions
Question
![Kelly Malone plans to have $58 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) (Use approprlate factor(s) from the tables provlded. Round
your final answer to 2 declmal places. Round "Table Factor" to 4 declmal places.)
Periodic Cash
Table Factor
Total Accumulation
Flow
Table Values are Based on:
3D](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffe46867b-8e32-4051-86e0-c12e0211534e%2F889489a3-7f86-4ad9-9f3d-fbc623fdaeb0%2F8imyhu_processed.png&w=3840&q=75)
Transcribed Image Text:Kelly Malone plans to have $58 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) (Use approprlate factor(s) from the tables provlded. Round
your final answer to 2 declmal places. Round "Table Factor" to 4 declmal places.)
Periodic Cash
Table Factor
Total Accumulation
Flow
Table Values are Based on:
3D
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