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%.

Question

Quizplus · Accepted Answer

The Answer of 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%.

Bonds with a Face Value of $100,000 Were Sold at an Effective