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A certain investor who will hold a bond to maturity and cares only about the return to his investment, must choose among three different 5-year

A certain investor who will hold a bond to maturity and cares only about the return to his investment, must choose among three different 5-year sovereign bonds issued by the Republic of Fredonia: (i) a premium bond, (ii) a discount bond, (iii) a par bond. Which of the following is true about the investors preferences?

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