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When Tory invested in a mutual fund composed of bonds, her primary risk is that the bonds held by the mutual fund could ______________, which

When Tory invested in a mutual fund composed of bonds, her primary risk is that the bonds held by the mutual fund could ______________, which occurs when a company borrows money through the issuance of debt securities and does not pay either the interest or the principal.

a) split

b) stabilize

c) fluctuate

d) default

e) withhold dividends

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