Problem 5-17 Calculating Interest Rate (LO2) A zero-coupon bond that will pay $1,000 in 10 years is selling today for $422.41. What interest rate does the bond offer? (Do not round intermediate calculations. Enter your answer as a whole percent.) Interest rate % You invest $1,000 today and expect to sell your investment for $2,000 in 10 years. a-1. Calculate the present value of the future payoff, if the interest rate is 6%. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value a-2. Is this a good deal? Yes No b-1. Calculate the present value, if the interest rate is 10%. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value b-2. Is this a good deal? Yes No