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For each situation below, indicate whether the note was issued at a premium, discount, or at face value. a. The face value of the note
For each situation below, indicate whether the note was issued at a premium, discount, or at face value. a. The face value of the note is $13,100. The investor paid $9,900 for the note. b. The market rate of interest is 12%. The stated rate is 13%. Discount Face value Premium c. The face value of the note is $12,100 and the note pays $1,210 interest annually. The market rate of interest applicable to this note is 9%. d. The face value of the note is $6,100. The investor paid $6,100 for this note. Attempts: 0 of 1 used
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