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A 7 year bond costs $1,000 and will pay a total of $100 interestover its lifetime. What is its annual interest rate r (as apercent)?

A 7 year bond costs $1,000 and will pay a total of $100 interestover its lifetime. What is its annual interest rate r (as apercent)? (Round your answer to three decimal places.) r = % 2 answers

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