The Wall Street Journal costs $206, payable now, for a two-year subscription. The

newspaper is published 252 days per year (five days a week, except holidays). If a 10%

nominal annual interest rate, compounded quarterly, is used:

A) What’s the effective annual interest rate (APY)?

B) Compute the equivalent interest rate per 1/252 of a year (per day).

C) What is a subscriber’s cost per copy of the newspaper, taking interest into account?

newspaper is published 252 days per year (five days a week, except holidays). If a 10%

nominal annual interest rate, compounded quarterly, is used:

A) What’s the effective annual interest rate (APY)?

B) Compute the equivalent interest rate per 1/252 of a year (per day).

C) What is a subscriber’s cost per copy of the newspaper, taking interest into account?

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