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Your bank is offering you an account that will pay 18% interest(an effectivetwo-year rate) in total for atwo-year deposit. Determine the equivalent discount rate for

Your bank is offering you an account that will pay 18% interest(an effectivetwo-year rate) in total for atwo-year deposit. Determine the equivalent discount rate for the followingperiods: (round all to two decimal places?

a. Six months

b. One year

c. One month

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

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