The market interest rate at the time of issuance is 4%

2) According to the meaning of the question, there can be a cash inflow of 5%* 1000=50 from the first year to the end of the ninth year.

The cash inflow in the tenth year also includes the principal, so it is 5% *1000+1000 =1050.

P is the present value of future cash flows.

=(F / A，4%， 10 )*50+[(F / A，4%， 10)-(F / A，4%，9 )]* 1000

=8. 1 109*50+(8. 1 109-7.4353)* 1000= 108 1