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1. What are the essential features of Bonds? What happens to par value under the following situations, and which is known a premium Bond and

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1. What are the essential features of Bonds? What happens to par value under the following situations, and which is known a premium Bond and a discount Bond? (10 Marks) a. If YTM equals to Coupon rate b. If YTM is greater than Coupon rate c. If YTM is lower than Coupon rate

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