DeKay Dental Supplies issued $10,000 of 20-year bonds on January 1, 2021. The bonds pay interest semiannually. This is a partial bond amortization schedule for the bonds. Payment Cash Effective interest Decrease in Balance Outstanding Balance
9,080
1 400 409 9 9,089
2 400 409 9 9,089
3 400 409 9 9,107
4 400 410 10 9117

Requied:
What is the stated annual rate of interest on the bonds?

He interest rate effect is the change in real gdp caused by the federal reserve adjusting target interest rates. is the change in consumer and investment spending due to changes in interest rates resulting from changes in the aggregate price level. is the change in exports and imports, resulting from changes in the interest rate caused by changes in the aggregate price level. is the change in investment spending and government purchases caused by changes in money demand. is the change in interest rates, caused by changes to government purchases.