Section 3,1(21) Compute the specified quantity. Round all answers to the nearest month, the nearest cent, or the nearest 0.001% , as appropriate. A 5-year bond costs $1000 and will pay a total of $250...

Section 3,1(21)

Compute the specified quantity. Round all answers to the nearest month, the nearest cent, or the nearest 0.001%,as appropriate.

A 5-year bond costs $1000 and will pay a total of $250 interest over its lifetime. What is its annual interest rate?