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A client owns a $ 1 , 0 0 0 1 0 - year bond. The coupon rate is 6 percent. The client acquired the
A client owns a $year bond. The coupon rate is percent. The client acquired the bond three years ago at a discount. What is knwon about the interest rates three years ago?
A The stated rate was less than percent.
B The stated rate was more than percent.
C The market rate was less than percent.
D The market rate was more than percent.
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