Your bank is offering you an account that will pay

20%

interest in total for a two-year deposit. Determine the equivalent discount rate for the following:

a. Six months

b. One year

c. One month

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

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Part 1

a. Six months

The equivalent discount rate for a period length of six months is

enter your response here%.

(Round to two decimal places.)

Part 2

b. One year

The equivalent discount rate for a period length of one year is

enter your response here%.

(Round to two decimal places.)

Part 3

c. One month

The equivalent discount rate for a period length of one month is

enter your response here%.

(Round to three decimal places.)