When the interest is compounded quarterly, there are four conversion periods in a year and the quarterly rate will be
A. one-third of the annual rate
B. one-fourth of the annual rate
C. three-fourth of the annual rate
D. two times the annual rate
When the interest is compounded quarterly, there are four conversion periods in a year and the quarterly rate will be
A. one-third of the annual rate
B. one-fourth of the annual rate
C. three-fourth of the annual rate
D. two times the annual rate