Suppose in the preceding problem that the bonds are financed by a bank that discounts the bond issue to $40 million. What is the new effective intrest rate? (Preceding problem is attached)

13.4 Suppose that for the multipurpose sports stadium example considered in the text, the bond issue was for 40 years and the annual interest rate is 9% of the bond principal. Using the architect's estimate of cost of \$41 million, determine the effective interest rate. 13.5 Suppose in the preceding problem that the bonds are financed by a bank that discpunts the troed