Quarterly rate
From ACT Wiki
The quarterly rate of interest (or yield) is a quoting convention for the simple interest nominal annual rate for compounding once per quarter (four times per year).
For example,
if the quoted quarterly rate is 6.00%,
the amount of interest compounded quarterly is 6.00%/4
= 1.50%.
Not to be confused with the related annual effective rate, which in this case is
1.0154 - 1
= 6.14%.
