Thinking Mathematically (6th Edition)

Published by Pearson
ISBN 10: 0321867327
ISBN 13: 978-0-32186-732-2

Chapter 8 - Personal Finance - 8.4 Compound Interest - Concept and Vocabulary Check - Page 520: 5

Answer

3, quarterly

Work Step by Step

If compound interest is paid four times per year, the compounding period is 3 months, and the interest is compounded quarterly, since 3 months is a quarter of a year.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.