Matt Johnson delivers newspapers and is putting away $40 at the end of each quarter from his paper route collections

Finance Oct 11, 2020

Matt Johnson delivers newspapers and is putting away $40 at the end of each quarter from his paper route collections. Matt is 10 years old and will use the money when he goes to college in 8 years. What will be the value of Mall's account in 8 years with his quarterly payments if he is earning 4.5% (APR), 8.5% (APR), or 15% (APR)?

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