Multiple Choice
Bonds with a face value of $100,000 were sold at an effective interest rate of 9% to yield cash proceeds in excess of $100,000. It is apparent that the bonds had a:
A) market rate greater than 9%.
B) market rate less than 9%.
C) stated rate greater than 9%.
D) stated rate less than 9%.
Correct Answer:
Verified
Correct Answer:
Verified
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