Go Premium for a chance to win a PS4. Enter to Win

x
?
Solved

Compound interest rate

Posted on 2016-08-31
3
Medium Priority
?
105 Views
Last Modified: 2016-08-31
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
Comment
Question by:mustish1
3 Comments
 
LVL 20

Accepted Solution

by:
Russ Suter earned 1000 total points
ID: 41778723
Compounded quarterly means once every quarter of a year (or 4 times per year)
0
 
LVL 27

Assisted Solution

by:d-glitch
d-glitch earned 1000 total points
ID: 41778731
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
 

Author Closing Comment

by:mustish1
ID: 41778849
Thank You.
0

Featured Post

Free Tool: IP Lookup

Get more info about an IP address or domain name, such as organization, abuse contacts and geolocation.

One of a set of tools we are providing to everyone as a way of saying thank you for being a part of the community.

Question has a verified solution.

If you are experiencing a similar issue, please ask a related question

Whether you believe the “gig economy,” as it has been dubbed, is the next big economic paradigm shift (https://www.theguardian.com/commentisfree/2015/jul/26/will-we-get-by-gig-economy) or an overstated trend (http://www.wsj.com/articles/proof-of-a-g…
When we purchase storage, we typically are advertised storage of 500GB, 1TB, 2TB and so on. However, when you actually install it into your computer, your 500GB HDD will actually show up as 465GB. Why? It has to do with the way people and computers…
The Bounty Board allows you to request an article or video on any technical topic, or fulfill a bounty request to earn points. Watch this video to learn how to use the Bounty Board to get the content you want, earn points, and browse submitted bount…
Although Jacob Bernoulli (1654-1705) has been credited as the creator of "Binomial Distribution Table", Gottfried Leibniz (1646-1716) did his dissertation on the subject in 1666; Leibniz you may recall is the co-inventor of "Calculus" and beat Isaac…

783 members asked questions and received personalized solutions in the past 7 days.

Join the community of 500,000 technology professionals and ask your questions.

Join & Ask a Question