Compound interest rate

mustish1
mustish1 used Ask the Experts™
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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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Commented:
Compounded quarterly means once every quarter of a year (or 4 times per year)
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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Thank You.

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