Question: A bond differs from a term loan in that: A bond issue is negotiated between a financial institution and an investor. A bond is sold

A bond differs from a term loan in that:

A bond issue is negotiated between a financial institution and an investor.

A bond is sold to a financial institution only.

A bond is always offered to the public at a variable coupon rate.

A bond has a higher issuance cost.

A bond involves minimal formal documentation.

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