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Find the quarterly interest rate if the annual rate is 8%.

Mathematics
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Let's have q for the quarterly rate of interest and r for the annual rate, shall we? :) Then we have this relation... \[\Large (1+q)^4 = 1+r\]
I'm not sure what to do next..
What is your value for r?

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Other answers:

8%?
yes, but that's equal to 0.08. Now just solve for q :)
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Yup :)
what do I do about the q? I'm not sure what to so next
What are the steps?
Well, for starters, get the fourth root of both sides?\[\Large 1+q = \sqrt[4]{1.08}\] And work it out from here
I'm still not sure what to do, would you explain step by step?

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