Time Remaining $22$ minutes $32$ seconds

$00$:$22$:$32$

Item $9$

Time Remaining $22$ minutes $32$ seconds

$00$:$22$:$32$

A bond that makes no coupon payments $($and thus is initially priced at a deep discount to par value$)$ is called a $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$ bond.

Multiple Choice

Municipal.

Junk.

Treasury.

Zero$-$coupon.

Floating rate.