Future value with periodic

rates.

Matt Johnson delivers newspapers and is putting away

$16

at the end of each

month

from his paper route collections. Matt is

8

years old and will use the money when he goes to college in

10

years. What will be the value of Matt's account in

10

years with his

monthly

payments if he is earning

4.5%

(APR),

10%

(APR), or

15%

(APR)?

What will be the value of Matt's account in

10

years with his

monthly

payments if he is earning

4.5%

(APR)?

$nothing

(Round to the nearest cent.)