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What is the issue price of the bond

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Question - Russel's Rockets issues a $700,000 bond on 1/1/20Y1 with a stated rate of 8%. Interest is paid annually. The bond matures in 12 years. The effective rate is 10%. Will this bond be sold at a discount or a premium? What is the issue price of the bond?

Reference no: EM133049407

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