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A ( n ) is a long - term contract under which a borrower agrees to make payments of interest and principal on specific dates.
is a longterm contract under which a borrower agrees to make payments of interest and principal on specific
dates. There are four main types reflecting who the issuers are:
corporate, state and local government, and
foreign. Each type differs with respect to
and expected return. All have some common characteristics even though
they may have different contractual features.
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