(1.0004^365) - 1 = 0.15716
(1.15716^1/4) - 1 = 0.037167, or 3.7167% quarterly periodic rate; this is the rate that, when compounded quarterly, will give you the same EAR as the daily compounding rate.
check math: 1.037167^4 - 1 = 0.15716
Voila!
I cant get that exact value, either, but (1+ .146/365) ^ 91.3 is close to that for a quarterly rate. 365 days to a year, 91.3 days to a calendar quarter.
The correct answer is 3.7167 but I don't know how to get that answer
