Consider again the security issue by Spanish Word Ltd that in return for receiving 24,099 today from investors, they will pay back 100,000 in 30 years.

(a)Based on the 24,099 price, what rate was Spanish Word paying to borrow money?

(b)Suppose that in 2020 this securitys price is 38,260. If an investor had purchased it for 24,099 in 2014 and sold it in 2020, what annual rate of return would she have earned?