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When a bond is sold at a discount the effective interest rate is: Multiple Choice a) equal to the stated rate. b) above the stated

When a bond is sold at a discount the effective interest rate is:

Multiple Choice

a) equal to the stated rate.

b) above the stated rate.

c) below the stated rate.

d) equal to the stated rate for a period of time and then above the stated rate for a period of time.

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