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The present value of a $10,000, 5-year bond, will be less than $10,000 if the contractual rate of interest is greater than the market

The present value of a $10,000, 5-year bond, will be less than $10,000 if the contractual rate of interest is greater than the market rate of interest. contractual rate of interest is equal to the market rate of interest. contractual rate of interest is less than the market rate of interest. bond is convertible.

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