Two bonds are available on the market as follows: Bond 1: Face value $250, 5 years to maturity at a simple interest rate of 5% per year. Bond 2: Face value $350, 3 years to maturity at a simple interest rate of r per year. Given that both bonds yield the same interest at maturity, calculate r. Round your answer to the nearest hundredth of a percent. Do NOT round until you have calculated your final answer.