Shannon purchases a bond for $1,142.38. The bond matures in 3 years, and she will redeem it at its face value of $1,200. Interest premiums are paid annually. If Shannon will earn a yield of 16%/year compounded yearly, what is the bond interest rate? Carry all interim calculations to 5 decimal places and then round your final answer to 1 decimal place. The tolerance is 10.2. Click here to access the TVM Factor Table Calculator Save for later Attempts: 0 of 3 used Submit