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The burning of coal releases sulfur dioxide into the atmosphere.
a.However, smelting is a clean process that does not deposit sulfur dioxide.
Par Value Bond
A bond that is selling for its original face value, as opposed to above (a premium) or below (a discount).
Modified Duration
A measure of the sensitivity of a bond's price to changes in interest rates, indicating the price change in percentage terms for a yield move of one percent.
Macaulay Duration
A measure of the weighted average time until a bond's cash flows are paid back, used to assess interest rate risk.
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