To fund its wars against Napoleon, the British government sold consol bonds. These bonds were called "perpetuities" because they would pay $8$ every year in perpetuity $($forever$).$

Instructions: Enter your answers rounded to $1$ decimal place.

If a citizen could purchase a consol for $50,$ what would the consol's annual interest rate be$?$

percent

What if the price were $100?$

percent

What if the price were $200?$

percent

Bonds are known as "fixed$-$income" securities because the future payments that they will make to investors are fixed by the bond agreement in advance. Do the interest rates of bonds and other investments that offer fixed future payments vary positively or inversely with their current prices?

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