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1. 2. Please answer 2 complete. :) Thank you Savings with periodic rates. What investment does Patrick need to make at the end of each
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Savings with periodic rates. What investment does Patrick need to make at the end of each month into his savings account over the coming 22 months to reach his vacation goal of $5,000 if he is getting 9% APR on his account? What investment does Patrick need to make at the end of each month into his savings account? (Round to the nearest cent.) Future value with periodic rates. Matt Johnson delivers newspapers and is putting away $40 at the end of each quarter from his paper route collections. Matt is 11 years old and will use the money when he goes to college in 7 years. What will be the value of Matt's account in 7 years with his quarterly payments if he is earning 4.5% (APR), 9.5% (APR), or 13% (APR)? What will be the value of Matt's account in 7 years with his quarterly payments if he is earning 4.5% (APR)? $ (Round to the nearest cent.)Step by Step Solution
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