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The Empirical Rule says that:
Annual Coupon
The interest payment distributed each year to holders of bonds, generally represented as a percentage of the bond's principal amount.
Maturity
The date on which the principal amount of a note, draft, acceptance bond, or another debt instrument becomes due and is repaid to the investor.
Market Interest Rate
The prevailing rate of interest that is available in the market for savings, loans, and investments.
Noncallable Bonds
Bonds that cannot be redeemed by the issuer before their specified maturity date, offering protection to bond investors.
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