Valuing bonds is an application of present value. a. Pure discount or zero-coupon bonds promise to make a single payment on a predetermined future date. b. Fixed-payment loans promise to make a fixed number of equal payments at regular intervals. c. Coupon bonds promise to make periodic interest payments and repay the principal at maturity. d. Consols (perpetuities) promise to make periodic coupon payments forever.

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Answer d Consols perpetuities promise to make perio... View the full answer