Your bank is offering you an account that will pay 22 %

22% interest(an effectivetwo-year rate) in total for atwo-year deposit. Determine the equivalent discount rate for the followingperiods:

a. Six months

b. One year

c. One month

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

a. Six months

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

nothing

%. ?