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What will be the value of Matt account in seven years

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Question - 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 6.5% (APR), 8.5% (APR), or 12.5% (APR)?

Reference no: EM133049234

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