In the future value of an annuity calculation, what variables must be adjusted if payments are made quarterly?

a) The N, or number of periods must be changed to 4 to reflect 4 payments per year, AND the interest rate must be multiplied by 4 to appropriately adjust the periods compounded.

b) The N, or number of periods must be changed to 4, to reflect 4 payments per year, AND the interest rate must be divided by 4 to appropriately adjust the compounding.

c) The N, or number of periods must be changed to 3 to reflect 3 payments per year, AND the interest rate must be multiplied by 3 to appropriately adjust the periods compounded.

d) The N, or number of periods must be changed to 3 to reflect 3 payments per year, AND the interest rate must be divided by 3 to appropriately adjust the periods compounded.