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Pure Discount Bonds TERM Bond Price Face Value Rate 1 $968.99 $1,000 2 $938.04 $1,000 3 $904.56 $1,000 4 $874.48 $1,000 Based on the information

Pure Discount Bonds TERM Bond Price Face Value Rate 1 $968.99 $1,000 2 $938.04 $1,000 3 $904.56 $1,000 4 $874.48 $1,000 Based on the information in the table, what is the 3-year interest rate? O 2.54% O 10.55% O 5.14% 3.40%

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