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 onthe 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. Roundyour final answer to 2 declmal places. Round "Table Factor" to 4 declmal places.)Periodic CashTable FactorTotal AccumulationFlowTable Values are Based on:3D

Given Periodic Cash flow = $ 53 Table values are based on n = 18 periods (1.5 yrs *12) i= 1% (12%…

Answered: Kelly Malone plans to have $58 withheld…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 24P

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