Question $4,$ P$5-7($similar to$)$

Part $1$ of $3$

HW Score: $27\mathrm{.}5\%,2\mathrm{.}75$ of $10$

points

Points: $0$ of $2$

Future value with periodic rates. Matt Johnson delivers newspapers and is putting away $$50$ at the end of each quarter 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 quarterly payments if he is earning $4\%($APR$),9\mathrm{.}5\%($APR$),$ or $13\mathrm{.}5\%($APR$)?$

What will be the value of Matt's account in $7$ years with his quarterly payments if he is earning $4\%($APR$)?$

$ $($Round to the nearest cent.$)$