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Future value with periodic rates Matt Johnson delivers newspapers and is putting away S16 at the end of each month from his paper route collections.

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Future value with periodic rates Matt Johnson delivers newspapers and is putting away S16 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 6% (APR). 8.5% (APR) or 13.5% (APR)? What will be the value of Mall's account in 7 years with his monthly payments if he is earning 6% (APR)? (Round to the nearest cent)

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