The Bawl Street Journal costs $206, payable now, for a 2-year subscription. The newspaper is published 252
Question:
The Bawl Street Journal costs $206, payable now, for a 2-year subscription. The newspaper is published 252 days per year (5 days per week, except holidays). If a 10% nominal annual interest rate, compounded quarterly, is used:
(a) What is the effective annual interest rate in this problem?
(b) Compute the equivalent interest rate per 1/252of a year.
(c) What is a subscriber's cost per copy of the news-paper, taking interest into account?
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a Effective Interest Rate 1 i m 1 1 0025 4 1 01038 1038 b Since the ...View the full answer
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