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  3. a bond issue with a face amount of $502,000 bears

A bond issue with a face amount of $502,000 bears interest at the rate of...

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Question

Accounting

A bond issue with a face amount of $502,000 bears interest at the rate of 10%. The current market rate of interest is also 10%. These bonds will sell at a price that is:

Multiple Choice

  • Equal to $502,000.

  • Less than $502,000.

  • More than $502,000.

  • The answer cannot be determined from the information provided.

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