1. A 3-year bond costs $30,000 and will pay a total of $2,000 in interest over its lifetime. What is its annual interest rate r? HINT [See Example 3.] (Round your answer to three decimal places.)

r = %

Cempute the specified quantty r bond costs $30,000 and will pay a total of s2,000 in interest over its lifetime. Whet is its aneual interest rate r? HINT (See Example 3.J (Round your answer to three decimal places Submt Answer Save Progress Practice Another Version My Notes Ast Your Compute the specitied quantty You are expecting a tax nefund of $5,000 in 4 weeks. A tax preparer offers you an interest -free" loan of $5,000 for a fee of $50 to be repaid by your refund check when it arives in 4 weeks. Thinking of the fee as interest, what weekdy simple interesz rate would you be paying on this loan? What is the corresponding annual rate? HINT (See Example S.) weekly simple interest rate annual simple interest rate Cempute the specified quantty take e1-year, ss,000 loan at 8% simple annual interest. The lerder charges you S200 fee. Thinking of the fee as aditional interest, what is actual annual interest rate r you wil Need Help? Lets