Answer
$3$, quarterly
Work Step by Step
If compound interest is paid four times per year, the compounding period is $12/4=3$ months, and the interest is compounded quarterly, since $3$ months is a quarter of a year.
Thinking Mathematically (6th Edition)
by Blitzer, Robert F.
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
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