Wall street journal costs 206 payable now for a two-year, Ask an Expert

Economics

Q. Wall Street Journal costs $206, payable now, for a two-year subscription. 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 effective annual interest rate (APY)?

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

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

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9307654

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