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Suppose a bond has a par value of $ 1 , 0 0 0 . If the bond s coupon rate is 5 % and

Suppose a bond has a par value of $

1, 000 .

If the bond

s coupon rate is

5 %

and the current market interest rate is

10 %,

the bond

s current market price is its par value, so this bond is called a bond.

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