Question 10Bob purchased a promissory note on January 1st , 2009 which agreed to pay simple interest in theamount 8.0% per year. The note will mature and be paid on April 1st , 2009, 90 days later. Bobsells the note to Sally on February 12th , 2009 (i.e. 42 days after purchasing) for an amount thatcauses Sally?s yield rate on the note to be equivalent to simple interest of 6.3% per year. Sallycashes in the note on April 1st ,2009 for 5000.00. Note: There are 365 days in a year.What is Bob?s annual yield rate (simple interest) on the note? Give your answer as a percentagerounded to two places. Do not round your calculations, at least not too much, until the veryend