Interest rate is compounded quarterly-find the interest rate

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On her 14th birthday, a girl inherits $14,000 which is to be used for her college education. The money will be deposited in a trust fund that will pay her R dollars on her 18th, 19th, 20th, and 21st birthday. Find R if the money compounds 7% interest annually.

A loan with a quarterly payment of $1440 has an unpaid balance of $11000 after 36 quarters and an unpaid balance of $10000 after 37 quarters. If the interest rate is compounded quarterly, find the interest rate.

Reference no: EM13868538

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Interest rate is compounded quarterly-find the interest rate : On her 14th birthday, a girl inherits $14,000 which is to be used for her college education. The money will be deposited in a trust fund that will pay her R dollars on her 18th, 19th, 20th, and 21st birthday. A loan with a quarterly payment of $1440 ..

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