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  • 09-01-2024
  • Business
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A bond issue with a face amount of $505,000 bears interest at the rate of 10%. The current market interest is also 11%. These bonds will sell at a price that is:

A) Equal to $505,000
B) The answer cannot be determined from the information provided.
C) Less than $505,000
D) More than $505,000

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