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A 1 0 - year bond is issued with an initial price of $ 5 0 0 . Ten years later the bondholder receives the

10 -

year bond is issued with an initial price of $

500 .

Ten years later the bondholder receives the $

1, 000

par value. The bondholder does not receive any interest along the way. Which of the following best describes this bond?

Term bond

Serial bond

Zero

-

coupon bond

Series bond

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