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The essence of the "shogunate system" was that
Coupon Bonds
Are bonds that pay the holder a fixed interest rate (the coupon) over a specified period, culminating in the return of the bond's face value on the maturity date.
Zero-Coupon Bond
A type of bond that is issued at a discount and does not pay periodic interest payments, only the face value at maturity.
Forward Interest Rate
An interest rate agreed upon now for a loan that will start at a future date, often indicative of market expectations for future interest rates.
Par Value
The nominal or face value of a stock or bond, which is the original value assigned when the security is issued.
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