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The bond price is the present discounted value of the future cash stream generated by a bond. It refers to the sum of the present

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The bond price is the present discounted value of the future cash stream generated by a bond. It refers to the sum of the present values of all likely coupon payments plus the present value of the par value at maturity. Required: (1) Briefly explain THREE (3) advantages and THREE (3) disadvantages of bond. [3 marks) (ii) List FOUR (4) types of bond market. [2 marks]

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