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-Paul and Paula are the only members of society.The table above gives their marginal benefits from missile gunboats,a public good.Determine the marginal benefit to society of the fourth missile gunboat.
Yield To Call
The yield to call is the return an investor would receive if they held a bond until its call date, when the issuer has the option to repay the bond before its maturity date at a specified price.
Nominal Yield
The yearly interest income from a bond or fixed-income security, expressed as a percentage of the bond's face value.
Semiannually
Occurring twice a year, typically every six months.
Call Price
The price at which a bond or other security can be repurchased by the issuer before its maturity date, usually at a premium to the face value.
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