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Your neighbour is bragging that the coupon payment on the bonds he bought five years ago has increased in each of the last three years.

Your neighbour is bragging that the coupon payment on the bonds he bought five years ago has increased in each of the last three years. You know he must own _______________.

a.A put bond.

b.A floating rate bond.

c.An income bond.

d.A zero-coupon bond.

e.A convertible bond.

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