7, when the effective (market) rate is 8%, what is the selling price of a 10%, 5 year, $1,000 bond that pays interest semiannually (twice a year)? Chapter 6-Twelve Time Value of Money Questions 8. when the effective (market) rate is 10%, what is the selling price of an 8%, 20year, $1,000 bond that pays interest semiannually (twice a year)? 9. when the effective interest rate is 12%, what is the market value of a 16%, 8-year, $1,000 bond that pays interest quarterly