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1. Matt Johnson delivers newspapers and is putting away ​$30 at the end of each quarter...

1. Matt Johnson delivers newspapers and is putting away ​$30 at the end of each quarter from his paper route collections. Matt is 12 years old and will use the money when he goes to college in 6 years. What will be the value of​ Matt's account in 6 years with his quarterly payments if he is earning 4​% ​(APR), 10.5 % ​(APR), or 13 % ​(APR)? What will be the value of​ Matt's account in 6 years with his quarterly payments if he is earning 4​%​(APR)?

2. What is the effective annual rate​ (EAR) of a mortgage that is advertised at 11.25​% ​(APR) over the next twenty years and paid with semiannual ​payments?
What is the effective annual rate​ (EAR) of the mortgage at 11.25​% APR with semiannual ​payments?

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