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Bonds with a face value of $200,000 were sold at an effective interest rate of 8% to yield cash proceeds in excess of $200,000. It
Bonds with a face value of $200,000 were sold at an effective interest rate of 8% to yield cash proceeds in excess of $200,000. It is apparent that the bonds had a: O effective interest rate greater than the market rate. O stated interest rate greater than the market rate. Ostated interest rate less than the market rate. effective interest rate less than the stated rate
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