5.67 % compounded Quarterly

<-- Enter nominal interest rate

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

Since there are 4 quarters in a year, we adjust our interest rate to a quarterly representation:
Quarterly Interest Rate =0.0567
4

Quarterly Interest Rate = 0.014175

Now, find the effective annual rate based on a quarterly compounding scheme:
From above, we have 4 quarters in a year, so we use this as our conversion exponent {n} below
Yield Rate = (1 + quarterly rate)n - 1
Yield Rate = (1 + 0.014175)4 - 1
Yield Rate = 1.0141754 - 1
Yield Rate = 6 - 1
Yield Rate = 0.554
Yield Rate Expressed as a percentage = 5.79%