Examlex
Which of the following is described as a system where customers send their checks directly to a post office box that belongs to a bank?
Par-Value
The face value of a bond or stock as stated by the issuer, which is typically the amount repaid at maturity for bonds.
Modified Duration
A formula used to determine the sensitivity of a bond's price to a 1% change in interest rates, indicating the percentage change in price for each percentage point change in yields.
Market Yield
The current annual income returned on an investment, measured as a percentage of the investment's market price.
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