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Noncallable Bonds
Bonds that cannot be redeemed by the issuer before their maturity date.
Callable Bonds
Bonds that can be redeemed by the issuer prior to their maturity date, usually at a predetermined price.
Future Interest Rates
An indication of what the cost of borrowing money or the rate of return on investments will be at a future date.
Callable Bonds
Bonds that give the issuer the right to redeem them before their maturity date at a pre-specified price.
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