Suppose the U.S. Treasury offers to sell you a bond for $3,000. No payments will be made until the bond matures 10 years from now, at which time it will be redeemed for $5,000. What interest rate would you earn if you bought this bond at the offer price?

a. 3.82%

b. 4.25%

c. 4.72%

d. 5.24%

e. 5.77%

***Need to use the RATE function in excel to get answer***