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 $4,100. What interest rate would you earn if you bought this bond at the offer price?
A. 2.38%
B. 3.55%
C. 3.17%
D. 3.20%
E. 3.27%
Answer: C
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