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Your bank is offering you an account that will pay 2 4 % interest ( an effective two - year rate ) in total for

Your bank is offering you an account that will pay 24% 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.)
a. Six months
The equivalent discount rate for a period length of six months is %.(Round to two decimal places.)
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