What is the effective annual yield rate of 5.67% compounded quarterly?

Quarterly Interest Rate = | 0.0567 | |

4 |

Quarterly Interest Rate = 0.014175

From above, we have 4 quarters in a year, so we use this as our conversion exponent {n} below

Yield Rate = (1 + quarterly rate)

Yield Rate = (1 + 0.014175)

Yield Rate = 1.014175

Yield Rate = 6 - 1

Yield Rate = 0.554

Yield Rate Expressed as a percentage =