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Your bank is offering you an account that will pay 15 % interest in total for a two-year deposit. Determine the equivalent discount rate for a period...

Your bank is offering you an account that will pay 15 % 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 _________

​%.

​(Round to two decimal​ places.)

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