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A bond is a certificate showing that a borrower owes a specified amount of money. To pay the money the borrower has agreed to make

A bond is a certificate showing that a borrower owes a specified amount of money. To pay the money the borrower has agreed to make interest and principal payments on a designated date (Hiller et al., 2016). a) Critically evaluate at least 3 major types of bonds. (15 marks) b) Explain 5 macroeconomic factors that are commonly used in APT empirical application

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