Question: TB MC Qu . 1 4 - 4 7 ( Algo ) A bond issue with a face amount... A bond issue with a face

TB MC Qu.14-47(Algo) A bond issue with a face amount...
A bond issue with a face amount of $700,000 bears interest at the rate of 7%. The current market rate of interest is
9%. These bonds will sell at a price that is:
Multiple Choice
Equal to $700,000.
The answer cannot be determined from the information provided.
More than $700,000.
Less than $700,000.
TB MC Qu.14-47(Algo) A bond issue with a face amount... A

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