A $500,000 bond issue sold for 98. Therefore, the bonds: (Points : 1) Sold at a discount because the stated rate of interest was lower than the effective rate. Sold for the $500,000 face amount less $10,000 of accrued interest. Sold at a premium because the stated rate of interest was higher than the yield rate. Sold at a discount because the effective interest rate was lower than the face rate