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You just purchased a bond that the city of Lafayette, Indiana issued to build a new school. What term best describes this type of bond?

You just purchased a bond that the city of Lafayette, Indiana issued to build a new school. What term best describes this type of bond? 

  1. Municipal bond 
  2. None of the choices are correct
  3. Zero-coupon bonds
  4. Junk bond
  5. Treasury bond
  6. Corporate bond

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