E F G H I Assume you deposit $700 every three months at a 6 percent annual rate, compounded quarterly. How much will you have at the end of 20 years? Note: "every three months" is quarterly. It happens 4 times per year. 5 PMT = quarterly 7 Interest 6% (APR)annual compounded quarterly 8 We need periodic rate (quarterly rate) 10 periodic rate = APR/m 11 periodic rate = 14 15 Number of periods is 20 years 16 We need N in quarters NO 20