Callable Bonds

question 23

Multiple Choice

Callable bonds

• A) are called when interest rates decline appreciably.
• B) have a call price that declines as time passes.
• C) are called when interest rates increase appreciably.
• D) are more likely to be called when interest rates decline and have a call price that declines as time passes.
• E) have a call price that declines as time passes and are called when interest rates increase appreciably.

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