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A savvy investor paid $ 5 , 5 0 0 for a 2 0 - year $ 1 0 , 0 0 0 mortgage bond

A savvy investor paid $5,500 for a 20-year $10,000 mortgage bond that had a bond interest rate of 8% per year, payable quarterly. Three years after he purchased the bond, market interest rates went down, so the bond increased in value. If the investor sold the bond for $11,500 three years after he bought it, what rate of return did the investor make per quarter and per year (nominal)? The rate of return per quarter is %. The rate of return per year is %.
25.45 and 101.80% are inccorect anwsers.

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