Problem $9-6$A $($Algo$)$ Understand a bond amortization schedule $($LO$9-5)$

$[$The following information applies to the questions displayed below.$]$

On January $1,2024,$ Paradise Hollow Resort issues $$36$ million of bonds that pay interest semiannually on June $30$

and December $31.$ Portions of the bond amortization schedule appear below:

Problem $9-6$A $($Algo$)$ Part $5$

What is the market annual interest rate? $($Round your answer to one decimal place.$)$