A $$500,000$ bond issue sold at $98.$ Therefore, the bonds:

Group of answer choices

Sold at a premium because the stated rate of interest was higher than the yield rate.

Sold for the $$500,000$ face amount less $$10,000$ of accrued interest.

Sold at a discount because the effective interest rate was lower than the face rate.

Sold at a discount because the stated rate of interest was lower than the effective rate.