Question 4 of 4\

(0)/(1)

\ View Policies\ Show Attempt History\ Current Attempt in Progress\ Devon Harris Company sells

10%

bonds having a maturity value of

$2,000,000

for

$1,855,816.00

. The bonds are dated January 1 , 2025 , and mature January 1,2030 . Interest is payable annually on January 1.\ Click here to view factor tables.\ (a)\ Your answer is incorrect.\ Determine the effective-interest rate. (Round present value factor to 5 decimal places, eg. 1.25124 and final answer to 0 decimal places, e.g. 18%.)\ The effective-interest rate\

%

Devon Harris Company sells 10% bonds having a maturity value of $2,000,000 for $1,855,816.00. The bonds are dated January 1 , 2025 , and mature January 1,2030 . Interest is payable annually on January 1. Click here to view factor tables. (a) Determine the effective-interest rate. (Round present value factor to 5 decimal places, eg. 1.25124 and final answer to 0 decimal places, e.g. 18%.) The effective-interest rate %