Question: What is the key difference between a bond and a long-term note? Long-term notes have a fixed interest rate, and bonds have a variable interest

What is the key difference between a bond and a long-term note?

Long-term notes have a fixed interest rate, and bonds have a variable interest rate.

The face value of bonds is higher than that of long-term notes.

A company can issue numerous long-term notes at one time, but only one bond may be issued at a time.

Long-term notes usually mature in 10 years or less, and bond maturities often run for 20 years or more.

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