Z Biz sold a 5-year,$1,000,zero-interest bond for $497.18 when the market rate of interest was 15%.The annual interest payment is ________.

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Zero-interest bonds, also known as zero-coupon bonds, do not have annual interest payments. Instead, they are sold at a discount to their face value, and the interest is effectively paid at maturity when the bond is redeemed for its full face value.

Z Biz Sold a 5-Year,$1,000,zero-Interest Bond for $497