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What would be the premium at which the bond was issued

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Reference no: EM132493773

On January 1, 2020, $200,000, 4-year,9% bonds were issued. The interest rate in effect when the bonds were issued was 8%. Interest is paid semi-annually on January 1 and July 1. Bond paid in full December 31, 2023. All answers rounded to the nearest dollar.

Question 1: What would be the premium (discount) at which the bond was issued:

a) Premium: more than $7,000

b) Premium: less than $7,000

c) Discount: more than $7,000

d) Discount: less than $7,000

e) There is not enough data to determine the premium (discount)

Reference no: EM132493773

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