Your bank is offering you an account that will pay 21% interest in total for a two-year deposit. Determine the equivalent discount rate for a period lengthof:
a. Six months.
b. One year.
c. One month
I need this one ASAP time now is 11:55 EST 1/24/17
a. (1+r)^4 -1 = 21% r = 4.88% b.... View the full answer