Future value with periodic rates. Matt Johnson delivers newspapers and is putting away $40 at the end of each quarter from his paper route collections. Matt is 13 years old and will use the money when he goes to college in 5 years. What will be the value of Matt's account in 5 years with his quarterly payments if he is earning 4% (APR), 8% (APR), or 14% (APR)?. What will be the value of Matt's account in 5 years with his quarterly payments if he is earning 4% (APR)?
