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A U . S . Treasury strip that will pay $ 1 , 0 0 0 in 1 5 years is selling today for $

A U

.

.

Treasury strip that will pay $

1, 000

15

years is selling today for $

315.24 .

What interest rate does the bond offer?

Note: Do not round intermediate calculations. Enter your answer as a whole percent.

Interest rate

%

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