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Determine the equivalent discount rate

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Question - Your bank is offering you an account that will pay 18% interest? (an effective? two-year rate) in total for a? two-year deposit. Determine the equivalent discount rate for the following? periods:

a. Six months

b. One year

c. One month

?(Note: Be careful not to round any intermediate steps less than six decimal? places.)

Reference no: EM133107500

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