• Select a type of bond feature, and consider why it is important, as well as whether it adds value to either the investor or the issuer. Also, review the concept of yield-to-maturity and its importance to valuing a bond.

By Day 3

explanation of how your selected bond feature is used to determine the value of a bond. In your explanation, include the following:

• Describe the bond feature you selected in detail.
• Explain how the feature is used to determine bond value, including the importance of yield-to-maturity.