pe dic rates. Matt Johnson delivers newspapers and is putting away $19 at the end of each month from his paper route collections. Matt is 8 years old and will use the money when he goes to college in 10 yea What will be the value of Matt's account in 10 years with his monthly payments if he is earning 5.5% (APR), 8% (APR) or 13.5% (APR)? What will be the value of Matt's account in 10 years with his monthly payments if he is earning 5.5% (APR)? $3,030.58 (Round to the nearest cent.) What will be the value of Matt's account in 10 years with his monthly payments if he is earning 8% (APR)? $2739 22] (Bound to the nearest cent)
pe dic rates. Matt Johnson delivers newspapers and is putting away $19 at the end of each month from his paper route collections. Matt is 8 years old and will use the money when he goes to college in 10 yea What will be the value of Matt's account in 10 years with his monthly payments if he is earning 5.5% (APR), 8% (APR) or 13.5% (APR)? What will be the value of Matt's account in 10 years with his monthly payments if he is earning 5.5% (APR)? $3,030.58 (Round to the nearest cent.) What will be the value of Matt's account in 10 years with his monthly payments if he is earning 8% (APR)? $2739 22] (Bound to the nearest cent)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text: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 8 years old and will use the money when he goes to college in 10 years.
What will be the value of Matt's account in 10 years with his monthly payments if he is earning 5.5% (APR), 8% (APR),
or 13.5% (APR)?
...
What will be the value of Matt's account in 10 years with his monthly payments if he is earning 5.5% (APR)?
$ 3,030.58 (Round to the nearest cent.)
What will be the value of Matt's account in 10 years with his monthly payments if he is earning 8% (APR)?
$2,739.22 (Round to the nearest cent.)
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