Bonds with a Face Value of $200,000 Were Sold at an Effective

question 178

Multiple Choice

Bonds with a face value of $200,000 were sold at an effective interest rate of 8% to yield cash proceeds in excess of $200,000. It is apparent that the bonds had a:

• A) stated rate less than 8%.
• B) stated rate greater than 8%.
• C) market rate less than 8%.
• D) market rate greater than 8%.

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