Problem 5-17 Calculating the Interest Rate (LO2) A US. Treasury strip that will pay $1,000 in 10 years is selling today for $508.35. What interest rate does the bond offer? (Do not round intermediate calculations. Enter your answer as o whole percent.) Old Time Savings Bank pays 4% interest on its savings accounts. If you deposit $1.000 in the bank and leave it there: (Do not round intermediote colculations. Round your answers to 2 decimal places.) a. How much interest will you earn in the first year? b. How much interest will you earn in the second year? c. How much winterst wil you eain th the 10 th year