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Interest rate. Upstate Bank is offering long-term certificates of deposit with a face value of $100,000 (future value). Bank customers can buy these CDs today

Interest rate. Upstate Bank is offering long-term certificates of deposit with a face value of $100,000 (future value). Bank customers can buy these CDs today for $50,000 and will receive the $100,000 in 15 years. What interest rate is the bank paying on these CDs? What interest rate is the bank paying on these CDs? % (Round to two decimal places.)

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