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Business, 02.06.2021 04:10 1kbarii

General Investment Co. (GIC) purchased bonds on January 1, 2021. GIC's accountant has projected the following amortization schedule from purchase until maturity: DateCash ReceivedInterest RevenueAmortization of DiscountAmortized Cost 1/1/2021 $194,758 6/30/2021$7,000 $7,790 $790 195,548 12/31/2021 7,000 7,822 822 196,370 6/30/2022 7,000 7,855 855 197,225 12/31/2022 7,000 7,889 889 198,114 6/30/2023 7,000 7,925 925 199,039 12/31/2023 7,000 7,961 961 200,000 What is the annual market interest rate on the bonds

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