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5-7 (similar to) Question Help Future value with periodic rates. Matt Johnson delivers newspapers and is putting away $18 at the end of each month
5-7 (similar to) Question Help Future value with periodic rates. Matt Johnson delivers newspapers and is putting away $18 at the end of each month from his paper route collections. Matt is 11 ears 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 monthly payments if he is earning 6% APR), 8.5% (APR), or 14% ( APR)? What will be the value of Matt's account in 7 years with his monthly payments if he is earning 6% (APR ) ? $ (Round to the nearest cent)
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