Convert an interest rate from one compounding frequency to another — useful when comparing products with different payment schedules.
Equivalent Rate
Effective Annual Rate
Periodic Rate (Target)
EAR = (1 + r/n)^n - 1
Equivalent Rate = n2 x [(1 + EAR)^(1/n2) - 1]
The effective annual rate is first computed from the source, then converted to the target compounding frequency.
Save your calculations and get detailed breakdowns