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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

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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 (Noto: Be careful not to round any intermediate stops 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.) b. One year The equivalent discount rate for a period length of one year is 3% (Round to two decimal places.) c. One month The equivalent discount rate for a period length of one month is % (Round to three decimal places)

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