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