Loan by making equal quarterly payments

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Reference no: EM131308169

Holly just borrowed 30,767 dollars from the bank. She plans to repay this loan by making equal quarterly payments for 6 years. If the interest rate on the loan is 15.36 percent per year and she makes her first quarterly payment in 3 months from today, then how much must Holly pay to the bank each quarter?

If Lena invests 6,000 dollars in 2 year(s) from today and 6,000 dollars in 1 year(s) from today in an account that has an expected annual return of 9.2 percent, compounded quarterly, then how much money will she have in her account in 11 years from today?

Ollie has 14,800 dollars in his retirement account. He plans to make quarterly contributions of 14,800 dollars to his account. His first quarterly contribution to his retirement account is expected in 3 months. Ollie expects to earn a return of 12.12 percent per year in his retirement account. How many quarterly contributions of 14,800 dollars does Ollie need to make to his retirement account to reach 387,581 dollars?

Reference no: EM131308169

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