1. What annual rate of return is earned on a $5,000 investment when it grows to $8,500 in five years? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
2. Your bank is offering you an account that will pay 27% 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.)