Gingko Inc. issued bonds with a face value of $100,000, a rate of 7%, and a 10-yearterm
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Gingko Inc. issued bonds with a face value of $100,000, a rate of 7%, and a 10-yearterm for $103,000. From this information, we know that the market rate of interest was ________.
A. More than 7%
B. Less than 7%
C. Equal to 7%
D. Equal to 1.3%
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Related Book For 
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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