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Bond instruments have a stated rate and then there's a market/yield rate. Given this, then...

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Accounting

Bond instruments have a stated rate and then there's a market/yield rate. Given this, then which of the following is true? Bonds will sell at:

Multiple Choice

Their face value if the stated rate is equal to the nominal rate.

Their face value unless the stated rate is less than the market rate

A premium if the stated rate exceeds the market rate.

A discount if the stated rate exceeds the market rate.

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