Question
Your bank is offering you an account that will pay 25 % interest in total for a two-year deposit. Determine the equivalent discount rate for
Your bank is offering you an account that will pay
25 %
interest in total for a two-year deposit. Determine the equivalent discount rate for a period length of:
a. Six months.
b. One year.
c. One month.
a. Six months.
The equivalent discount rate for a period length of six months is
nothing%.
(Round to two decimal places.)
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Health Care Finance Basic Tools For Nonfinancial Managers
Authors: Judith J. Baker, R.W. Baker, Neil R. Dworkin
5th Edition
1284118215, 978-1284118216
