What is the effective rate of annual interest

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Reference no: EM13267739

An account earns 5% the first year, 7% the next 3 years, 8% the next 4 years and loses 3% each of the next 2 years.

a.) What is the effective rate of annual interest for this account?

b.) What rate of simple interest would result in the same accumulated amount?

c.) What rate of discount, convertible twice each year would produce the same result?

Reference no: EM13267739

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