OShea Inc. issued bonds at a face value of $100,000, a rate of 6%, and a 5-year term for $98,000. From this information, we know that the market rate of interest was ________.

1. more than 6%
2. less than 6%
3. equal to 6%
4. cannot be determined from the information given.

   Gingko Inc. issued bonds with a face value of $100,000, a rate of 7%, and a 10-yearterm for $103,000. From this information, we know that the market rate of interest was ________.

5. more than 7%
6. less than 7%
7. equal to 7%
8. equal to 1.3%