Future value with periodic rates Matt Johnson delivers newspapers and is putting away $17 at...
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Accounting
Future value with periodic rates Matt Johnson delivers newspapers and is putting away $17 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 4.5% (APR), 11% (APR), or 13% (APR)? What will be the value of Matts account in 9 years with his monthly payments if he is earning 4.5% (APR)? (Round to the nearest cent)
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