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Compound interest rate

What do they mean by quarterly? Is this yearly quarterly or quarterly in the sense of 5 years. I am just confused on what that means.
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mustish1
Asked:
mustish1
2 Solutions
 
Russ SuterCommented:
Compounded quarterly means once every quarter of a year (or 4 times per year)
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d-glitchCommented:
r is the interest rate per year.  You divide it by 4 to find the rate per quarter.

t is the number of years.  You multiply it by 4 to find the number of payments.
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mustish1Author Commented:
Thank You.
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