Q.651 Ahmed Hatti is an undergrad business and finance student at the University of Millennials. Along with his friend, he manages a small hypothetical fund from his dorm room. The fund consists of small investments from his colleagues and family. As a fund manager, he is also responsible for generating a quarterly income newsletter, which he has to email to all fund contributors. Recently, Hatti decided to invest a small portion of his fund into an interest-bearing account that quotes an interest rate of 16% compounded continuously. In order to add the interest rate into the quarterly newsletter, he must convert the continuously compounded rate into a quarterly compounded rate. Which of the following is the most appropriate conversion of the rate?