Mathematics, 18.10.2021 07:20 ddrain6285

Two bonds are available on the market as follows: • Bond 1: Face value $250,5 years to maturity at a simple interest rate of 5%.
• Bond 2: Face value $350, 3 years to maturity at a simple interest rate of r.
Given that both bonds yield the same interest at maturity, calculate r.
Round your answer to the nearest hundredth of a percent.
Do NOT round until you have calculated your final answer.

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