Your bank is offering you an account that will pay 24% interest (an effective two-year rate) in total for a two-year depost. Determine the equivalent discount rate for the following periods a. Six months b. One year (Note: Be careful not to round any intermediate steps less than six decimal places) c. Ono month You are looking to buy a car and you have been offered a loan with an APR of 6.5%, compounded monthly Tea. What is the true monthly rate of interest? b. What is the EAR? (Note: Be careful not to round any intermediate steps less than six decimal places.) You are considering two ways of financing a spring break vacation. You could put it on your credit card, at 12% APR, compounded monthly, or borrow the money from To your parents who want an interest payment of every six months. Which is the lower rato? (Note: Be careful not to round any intermediate stops less than six decimal places) anti The effective annual rate for your credit card is (Round to two decimal places.) An online bank is offering to pay o 25% interest per month on deposits. Your local bank offers to pay 0 80% interest quarterly (overy 3 months). Which is the higher hele interest rate? menti The EAR for the online bank is%. (Round to four decimal places)