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19) Which of the following is NOT a characteristic of public debt: O The rate of interest payable may vary based on an agreed benchmark

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19) Which of the following is NOT a characteristic of public debt: O The rate of interest payable may vary based on an agreed benchmark such as LIBOR The firm is required to pay back the "par value" upon maturity The market price of the debt is influenced by current market interest rates The firm is required to pay a "coupon" rate of interest

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