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Future value with periodic rates.Matt Johnson delivers newspapers and is putting away $ 30 at the end of each quarter from his paper route collections.
Future value with periodic rates.Matt Johnson delivers newspapers and is putting away $
30 at the end of each
quarter 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
quarterly payments if he is earning
5.5% (APR),
11% (APR), or
14.5% (APR)?
What will be the value of Matt's account in
9 years with his
quarterly payments if he is earning
5.5% (APR)?
$
nothing
(Round to the nearest cent.)
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