Problem
The Golden Gate Bridge in San Francisco was financed with construction bonds sold for $35 million in 1931. These were 40-year bonds, and the $35 million principal plus almost $39 million in interest were repaid in total in 1971. If interest was repaid as a lump sum, what interest rate was paid on the construction bonds?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.