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13. The price of zero-coupon bonds is (this comes from your textbook) The present value of the principal payment at maturity less the present value

13. The price of zero-coupon bonds is (this comes from your textbook)

The present value of the principal payment at maturity less the present value of the interest payments.

The present value of the principal payment at maturity plus the present value of the interest payments.

None of the above.

The present value of the principal payment at maturity

The face value of the bond

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