A bond sells at a discount when the: Multiple Choice o Bond has a short-term life. o Bond pays Interest only once a year. o Contract rate is above the market rate. o Contract rate is below the market rate. mapters 8-13) 2 hours-50 questions-100 points Help Save & Exit (Use 360 days On November 1, Alan Company signed a 120 day, 8% note payable, with a foce value of $9,000. What is the maturity value of the note on March a year.) Multiple Choice o 59,720 o O s720 o 39 240 o O ss.ooo