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Future value with periodic rates Matt Johnson delivers newspapers and is putting away $19 at the end of each month from his paper route collections.

Future value with periodic rates

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 of Matt's account in 7 years with his monthly payments if he is earning 4.5% (APR), 10% (APR), or 12% (APR)?

What will be the value of Matt's account in 7 years with his monthly payments if he is earning 4.5% (APR)? (round to the nearest cent)

10% (APR)?

12% (APR)?

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