Question: 7. [-/2 Points] DETAILS WANEFMAC7 3.1.022. MY NOTES PRACTICE ANOTHER Compute the specified quantity. A 2 year bond costs $30,000 and will pay a total

7. [-/2 Points] DETAILS WANEFMAC7 3.1.022. MY NOTES PRACTICE ANOTHER Compute

7. [-/2 Points] DETAILS WANEFMAC7 3.1.022. MY NOTES PRACTICE ANOTHER Compute the specified quantity. A 2 year bond costs $30,000 and will pay a total of $2,400 in interest over its lifetime. What is its annual interest rate r (as a percent)? (Round your answer to three decimal places.) r % Need Help? Read It Watch It

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