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The last two options for the question are 9.35% and 8.80% The last question is: Based on your understanding of the determinants of interest rates,

The last two options for the question are 9.35% and 8.80%

The last question is:

Based on your understanding of the determinants of interest rates, if everything else remains the same, which of the following will be true?

A AAA-rated bond has less default risk than a BB-rated bond.

or

The yield on a AAA-rated bond will be higher than the yield on a BB-rated bond.

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Fundamentals Of Financial Management

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