Question: Compute the specified quantity. A 6 year bond costs $20,000 and will pay a total of $2,000 in interest over its lifetime. What is

Compute the specified quantity. A 6 year bond costs $20,000 and will

Compute the specified quantity. A 6 year bond costs $20,000 and will pay a total of $2,000 in interest over its lifetime. What is its annual interest rate r (as a percent)? (Round your answer to three decimal places.) = %

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