Your bank is offering you an account that will pay 16% interest (an effective two-year rate) in total for a two-year deposit. Determine the equivalent discount rate for the following periods: a. Six months b. One year c. One month (Note: Be careful not to round any intermediate steps less than six decimal places.) a. Six months The equivalent discount rate for a period length of six months is 5%. (Round to two decimal places.) b. One year The equivalent discount rate for a period length of one year is % (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.)