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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
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 $12,900. The investor paid $9,700 for the note. b. The market rate of interest is 12%. The stated rate is 13%. C. The face value of the note is $11,900 and the note pays $1,190 interest annually. The market rate of interest applicable to this note is 9%. d. The face value of the note is $5,900. The investor paid $5,900 for this note.
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