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

9

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

9

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

9

years with his

monthly

payments if he is earning

4%

(APR),

10.5%

(APR), or

14%

(APR)?

What will be the value of Matt's account in

9

years with his

monthly

payments if he is earning

4%

(APR)?