Question: Mackenzie bought a 1 0 - year, $ 1 , 0 0 0 bond with an annual coupon rate of 9 . 8 % .

Mackenzie bought a 10-year, $1,000 bond with an annual coupon rate of 9.8%. The market rate of interest is currently 7.25%. She bought this bond at
a discount.
par value.
a premium.
face value.

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