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Proficient-level: Provide the definitions of a discount bond and premium bond. Give examples (Cornett, Adair, & Nofsinger, 2016, p. 184). Distinguished-level: Explain why market interest

Proficient-level: "Provide the definitions of a discount bond and premium bond. Give examples" (Cornett, Adair, & Nofsinger, 2016, p. 184). Distinguished-level: Explain why market interest changes are reflected in bond prices.

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