Jones borrows $1,000 for five years. Simple interest is charged. The accumulated value at the end of the term will be $1, 330. The following effective rates of interest and discount over the same five year time period will produce the same accumulated value
Year Annual Effective Rates of Interest/Discount
1 Discount of 9%
2 Interest of 4%
3 Interest of 4%
4 Discount of X%
5 Discount of 3%
What is the discount rate X?