B) present C) discounted D) face rate is the rate of interest that the issuer must pay. 19) The A) market B) coupon C) discount D) funds 20) To sell an old bond when interest rates have the holder will have to the price of the bond until the yield to the buyer is the same as the market rate. A) risen; lower B) risen; raise C) fallen; lower D) risen; inflate 21) The bond contract that states the lender's rights and privileges and the borrower's obligations is called the A) bond syndicate. novenant