Item$7$

$4\mathrm{.}16$points

Time Remaining $1$ hour $8$ minutes $45$ seconds

$01$:$08$:$45$

Item $7$

Time Remaining $1$ hour $8$ minutes $45$ seconds

$01$:$08$:$45$

When a bond issue sells for less than its face value, the market rate of interest is:

Multiple Choice

Dependent on the stated rate of interest.

Less than the stated rate of interest.

Higher than the stated rate of interest.

Equal to the stated rate of interest.