Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Exercise B-16 (Algo) Future value of an annuity LO P4
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 two 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 EVA 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
1
=
.
Table Factor Total Accumulation
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Transcribed Image Text:Exercise B-16 (Algo) Future value of an annuity LO P4 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 two 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 EVA 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 1 = . Table Factor Total Accumulation
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