1) Matt Johnson delivers newspapers and is putting away $19 at the end of each month 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 ofMatt's account in 7 years with his monthly payments if he is earning 7% (APR), 9% (APR), or 14.5% (APR)?

2) Payments with periodic rates.

• Denise has her heart set on being a millionaire. What payment does Denise need to make at the end of each month over the coming 39 years at 7% APR to reach her retirement goal of $1.2 million?

What monthly payment does Denise need to make to reach her retirementgoal?