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A river 100 m wide flows 1 m/s due south. A boat that travels 1 m/s relative to the water is pointed due east as it crosses from the west bank. Relative to its starting point, the boat travels
Straight Bonds
Conventional bonds that pay a fixed interest rate over their lifetime and return the principal at maturity, without any special features or options.
Implied Value
The estimated value of an asset or investment derived from models or market prices rather than direct measurement.
Annual Coupon
The annual interest payment paid to bondholders, usually expressed as a percentage of the bond's face value.
Convertible Issues
Financial instruments such as bonds or preferred stocks that can be converted into a predetermined number of common stocks.
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