A man banked $\$50,000$ into the bank which pays compound interest if $7.6\%$ per annum compounded every 3 months.
The formula is
$$ A = P \left( 1 + \frac r {100} \right)^n $$ where $P$ is the principal amount, $r$ is the rate of interest annually, and $n$ is the number of years.
For that question
Why do I have to take $r =7.6/4$ when it is every 3 months ?
So if the question wants "compounded quarterly." Do I take $r = 7.6/3$ ?
So in conclusion , for 'R' do I divide the number of times they get the interest per year ? For example compounded every 3 months , 1 year they will get interest 4 times . That is why I divide by 4 .
$7.6\%$ per year $= \dfrac{7.6\%} 4$ per quarter, since there are four quarters in a year. And if $n$ is the number of years, then $4n$ is the number of quarters. So you have $$ \left( 1 + \frac{7.6/4}{100} \right)^{4n}. $$