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Question(s) / Instruction(s):

A $500,000 bond issue sold for $510,000. Therefore, the bonds:

a)            Sold at a premium because the stated interest rate was higher than the market rate.

b)            Sold for the $500,000 face amount plus $10,000 of accrued interest.

c)            Sold at a discount because the stated interest rate was higher than the market rate.

d)            Sold at a premium because the market interest rate was higher than the stated rate.

 

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