An interest rate of 14.92% per year compounded every three months is equivalent to a weekly compounded interest rate of
1.15.96%
2. 14.5%
3. 14.88%
4. 19.02%
If compounded every three months: , where R - amount after 1 year, P - initial amount
If compounded every week: , where R - amount after 1 year, P - initial amount
So,
14.67%
Comments