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Compound interest rate

Posted on 2016-08-31
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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.
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Question by:mustish1
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Russ Suter earned 250 total points
ID: 41778723
Compounded quarterly means once every quarter of a year (or 4 times per year)
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by:d-glitch
d-glitch earned 250 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.
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Author Closing Comment

by:mustish1
ID: 41778849
Thank You.
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