I need to set up a lending loan in quicken for an annual interest rate

Question

I am able to set up a lending loan for a property in quicken but do not have the option to set up an annual interest rate in the documents. The IRS AFR allows an annual interest rate for loans lasting longer than 9 years and this loan is for a home. All Quicken allows is daily, monthly, and semi-annually. Appreciate your advice. R

Sherlock · Accepted Answer

I suspect you're referring to the Compounding period.  If you really want to compound annually, you may convert a compounded interest rate to an annual interest rate.  There are a numerous calculators available online.  Here's one: https://www.calculators.org/savings/apy-to-apr.php

Sherlock · Accepted Answer

Using the calculator provided earlier, 1.82% is equivalent to a 1.811793510686588% semi-annual compound