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Suppose a 5-year 5% bond is issued for $975.00 per bond. The market interest rates were higher than the coupon rate when the bond was

Suppose a 5-year 5% bond is issued for $975.00 per bond. The market interest rates were higher than the coupon rate when the bond was sold.

Will the annual interest be more or less than the interest paid?

Group of answer choices

More, because the bond was issued at a value less than par value

Less

Same

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