View Policies Current Attempt in Progress Splish Company sells 8% bonds having a maturity value of $2,840,000 for $2,624,680. The bonds are dated January 1, 2020, and mature January 1, 2025. Interest is payable annually on January 1. (a) Determine the effective-interest rate. (Round answer to O decimal places, e.g. 18%) The effective-interest rate % eTextbook and Media Save for Later Attempts: 0 of 3 used Submit