By the term quarter, we mean to say that a year is to be divided in four equal parts. Each year has 12 months. Therefore, each quarter is only composed of 3 months. The rate of tripling the money in 36 months can also be expressed in its equivalent in 3 months.
3/36 = x /3
The value of 3 is equal to 9/36 or 1/4. Therefore, the money will grow by 0.25% every quarter.
