Use the Present Value and Future Value Tables Included in Appendix

Use the present value and future value tables included in Appendix 8 and on the textbook companion website.
-The effective interest rate of a 10-year, 8 percent, $1,000 bond issued at 103 would be approximately

A) 7.5 percent
B) 7.8 percent
C) 8.0 percent
D) 8.2 percent