On January 1,2011,Bondz,Inc.issued $1,000,000 of 10%,10-year bonds when the market rate of interest was 12%.The bonds pay interest QUARTERLY.To calculate the amount of cash that Bondz received,you must use a discount rate of ________.
A) 10%
B) 12%
C) 4%
D) 3%
Correct Answer:
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