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(Related to Checkpoint 5.6) (Solving for i ) Springfield Learning sold zero coupon bonds (bonds that don't pay any interest, instead the bondholder gets just

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(Related to Checkpoint 5.6) (Solving for i ) Springfield Learning sold zero coupon bonds (bonds that don't pay any interest, instead the bondholder gets just one payment, coming when the bond matures, from the issuer) and received $1,000 for each bond that will pay $19,000 when it matures in 30 years. a. At what rate is Springfield Learning borrowing the money from investors? b. If Nancy Muntz purchased a bond at the offering for $1,000 and sold it 15 years later for the market price of $3,600, what annual rate of return did she earn? c. If Barney Gumble purchased Muntz's bond at the market price ($3,600) and held it 15 years until maturity, what annual rate of return would he have earned? a. At what rate is Springfield Learning borrowing the money from investors? % (Round to two decimal places.)

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