You are thinking about buying a savings bond. The bond costs $55 today and will mature in 8 years with a value of $110. What annual interest rate will the bond earn? The bond will earn an annual rate of \%. (Round to two decimal places.) You have decided to buy a perpetual bond. The bond makes one payment at the end of every year forever and has an interest rate of 10%. If the bond initially costs $3,000, what is the payment every year? The payment at the end of each year is $. (Round to the nearest dollar.)