• Status: Solved
  • Priority: Medium
  • Security: Public
  • Views: 125
  • Last Modified:

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.
screenshot.jpg
0
mustish1
Asked:
mustish1
2 Solutions
 
Russ SuterCommented:
Compounded quarterly means once every quarter of a year (or 4 times per year)
0
 
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.
0
 
mustish1Author Commented:
Thank You.
0
Question has a verified solution.

Are you are experiencing a similar issue? Get a personalized answer when you ask a related question.

Have a better answer? Share it in a comment.

Join & Write a Comment

Featured Post

Get your problem seen by more experts

Be seen. Boost your question’s priority for more expert views and faster solutions

Tackle projects and never again get stuck behind a technical roadblock.
Join Now