Problem
The Bawl Street Journal costs $580, payable now, for a 2-year subscription. The newspaperis 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 1/252 of a year.
(c) What is a subscriber's cost per copy of the newspaper, taking interest into account?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.